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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: TREND1 who wrote (13937)12/17/2001 4:24:15 PM
From: DlphcOracl  Read Replies (8) of 99280
 
Contrarian Indicator

This thread (and most of the internet threads, I might add) remains one of the best contrarian indicators. Even after three months in which: (1) indices have not had more than three consecutive down days; (2) corrections have been shallow, with worst Nasdaq "correction" equaling approximately 8%, most everyone still thinks we are in a bear market.

I still beg to differ and maintain that we are in the early stages of a bull market that will last 18-24 months. This is NOT to say that the Nasdaq will not have sharp (20-35%) corrections; however, these will be normal Nasdaq corrections within the context of a bull market. Heck, we had these from October 1998 through March 2000.

IMO, those of you waiting for another "crash" comparable to 9/17 through 9/21 are waiting for pie in the sky. This is a time to be fully invested, not on the sidelines in cash or shorting the market. One final thought -- this is NOT an invitation to put 100% of your funds in the Nasdaq. There will be many sectors other than technology that will participate, especially biotech, small caps, and financials.

Sometimes you have to wake up and smell the coffee.

P.S. to Zeev: You've got to stop watering the turnips with bear urine. Nasdaq will see 2100 and S&P will see 1175 before they see 1900 and 1075 respectively.

DlphcOracl
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