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Strategies & Market Trends : Classic TA Workplace

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To: martin001 who wrote (25223)12/14/2001 4:48:31 PM
From: pater tenebrarum  Read Replies (1) of 209892
 
he he...that reminds me...this market is living on borrowed time. several measures of sentiment show incredible bullishness. there may be some more room for another wiggle up, but medium to longer term i think the stock market is toast, and the big surprise of 2002 will be that instead of the widely predicted recovery, both the market and the economy will tank horribly.
watch out for WS strategist equity allocations to fall from their current all time high of 76% to the low 40's, high 30's at the bottom. specifically the Nasdaq could experience a wipe-out on par with the more famous collapses of the past...1720-22, 1929 to '32, that order of magnitude.
i also expect the bottom to be characterized by mainstream economists changing their tune by 180 degrees...from "recovery imminent" to "no recovery in sight".
i'll be a hopefully very very loooonely bull then.

have a great weekend!
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