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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: High-Tech East who wrote (13113)6/28/2002 10:59:11 AM
From: Terry Whitman  Read Replies (4) of 19219
 
I am certainly more bullish on the market here than I am the dollar. But I think both will soon rise. Why?

Call it the bathtub analogy. The market fills up like a bathtub. The first in are at the bottom of the tub- the last one's in are near the surface. At the market top, the drain plug is pulled. The smart money leaves first, since they are at the bottom. The last ones in are near the surface, and are the last ones to drain out.

At the top of the tub are the emotional investors(un-smart money), and foreigners. They are the last to buy in, and the last to get out. I believe the biggest impetus behind this year's market selling has been foreign money pulling out. The falling dollar would tend to confirm that.

If so, the bathtub must be very close to empty- which is where the smart money would be getting back in.

TW
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