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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Zeev Hed who wrote (68989)5/18/2002 10:46:47 AM
From: DebtBomb  Read Replies (1) of 99280
 
Wall Street has a knack for creating inspirational rallies when the mood of investors is at a low ebb. This may be another one of those "dead cat" bounces for the volatile Nasdaq.

Even the Dow, the dean of stock market indexes, hasn't been immune to false rallies. Seven times since early 2000, the Dow has zoomed 300 points, but five of those triple-decker gains did not hold for more than two weeks, Merrill Lynch says.

The Dow this week revisited the 10,000 level for the 17th time since it first broke that magic number in March 1999. But the last 16 attempts have failed to hold.

"What's happening," says Dines, "is that shallow thinkers assume all is well and the bull market must be about to resume, in view of the so-called 'economic recovery'."

biz.yahoo.com
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