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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: orkrious who wrote (2613)11/1/2001 7:48:47 PM
From: Softechie  Read Replies (1) of 99280
 
This would cheer you up.

Miracles?

I don't want to argue with the market, but despite the advances in the major averages, volume shrank on the rise. Even on a short-term micro basis, there were no new highs or lows in the averages. It is not easy to find exceptional chart patterns.
The market needs a pullback. If it doesn't do what's good for it here, it will do it from a somewhat higher level and the decline will be more uncomfortable. Where is the market supposed to go? From the September bottom, the Dow climbed 14%, the S&P 500 15%, the Nasdaq Composite 25% and the Nasdaq 100 31%. That's in less than a month and a half. Who expects the market to march along at a hot pace like that right up to new all time highs? This is not a realistic expectation. All markets need corrections to moderate their trend rates, which perpetually overrun in both directions.
This market has more uncertainty to contend with than any market in a long, long time. Don't expect miracles. -DW
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