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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 35.96

+4.7%

Nov 19 4:00 PM EST

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To: GROUND ZERO™ who wrote (2937)	6/18/2002 10:18:05 AM
From: Kirk ©	Read Replies (1) of 206942

Da Way eye C it. The bull run from 1982 is only correcting now. It is correcting the Nasdaq craziness where many wanted instant wealth and some got it bringing companies public and paying the pimps like Merrill Grinch to pump the stocks while the insiders unloaded. A few others built companies so damned complicated that nobody could see they were taking more out with excessive salaries and options than they were building. Still, the bull didn't end because sentiment NEVER got very high. Even at the top in 2000, the percentage of bulls over bulls plus bears never got above 70% and it was over 90% before the 1929 crash. Most of the bears today are looking for the market to go lower because there are still too many perma bulls looking for a bottom. Well, I say the bears are wrong because the bears were never converted to the bull side to end the bull market to end the bull market! My GUESS is this last correction will be what it takes to convert many permabears to the bull case and we will go to new NYSE and total stock market highs. The nasdaq is a sector and that might not set new highs especially since many of the bubble stocks that were in the index have gone bankrupt. When the permabears convert to bulls, it could be in the 2004 to 2010 time frame when many of the baby boomers will start to lower their equity allocation and perhaps fuel a real bear market. Of course, I am not silly enough to believe this is going to happen with any certainty, but it does seem reasonable. Kirk out more here: suite101.com

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