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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Crimson Ghost who wrote (63282)5/7/2002 7:03:28 PM
From: Jdaasoc  Read Replies (1) of 99280
 
I think we see 600 this fall.

One can't have the type of capitulation required unless the mulitheaded demons that hype most stocks like C, JPM and AXP come under the maximum pressure before sector can rally anew as strong buys with the possibility of doubling. The 600 level of BKX of fall 1997 & fall 1998 Japanese crisis levels for banks need to be retested IMO.
There is "no gain in productivity" for dealing with deadbeat borrowers or telecom junk bonds. They are constant and never changing harzard to be dealt with. Like unemployment, they will be lagging indicator. RTC bailout issues continued into 1992-3 if I remember correctly.
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