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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: yard_man who wrote (174577)6/22/2002 12:54:14 PM
From: benwood  Read Replies (1) of 436258
 
Remember the big contrary signal for the bull market? A picture of a bull on the cover of a major news periodical. As I recall, the bull appeared about two years before the bubble burst -- maybe more.

A better indicator to me would be when my just-visited-from-Phoenix friends sell off their tech stocks. I didn't know this at the time, but they margined during the bubble and lost big time and now have a 2nd mortgage to pay off. They check daily for a comeback and both said to me that they just want them to go up some before they sell. I told the husband, "Dude, you're getting a Hell!" I digress... they are the people who will create the panic bottom, who will be the real capitulators. They still fully expect a partial (or perhaps total) comeback, but their intention already is simply to get out when they haven't lost so much.
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