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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Terry Whitman who wrote (24135)11/15/2001 9:57:30 AM
From: Paul Shread  Read Replies (1) of 52237
 
I was talking about the bottom of this cyclical bear. We have had none of the signs of a major bottom, which have occured even at the bottom of cyclical bears (1966, 1970). Absence of high TRIN and 90% downside likely due to Fed meddling. But 90% upside day? They couldn't do that WITH Fed money. And the big commercials are still short the index futures.

I believe John Pitera posted a NY Times piece from August 1982 in which every analyst quoted was bearish. The only "bullish" one thought the bottom was a few months away. That's been one thing I've been wondering here - will the economists and analysts keep calling the bottom and eventually get it right, or will they be wrong at the bottom? Remember in October 1998, WS equity allocations dipped below 50% at the bottom; they're at about 70% now and haven't dipped at all.

One of the chief clowns has departed. Good riddance -- 06:58 ET Henry Blodget : The NY Times reports that Internet analyst Henry Blodget has accepted a buyout offer from Merrill Lynch. "It just seemed like a good time to pursue the next thing." The WSJ reports that while Merrill officials have balked at some executives accepting such offers, they didn't ask Mr. Blodget to stay.
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