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Strategies & Market Trends : Groundhog Day
QQQ 622.00+0.8%Dec 2 4:00 PM EST
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To: Jorj X Mckie who wrote (5692)9/8/2002 8:57:44 PM
From: Original Mad Dog  Read Replies (2) of 6346
 
That is a very wise post. The 1995 retrace levels are still a ways off, too.

Everything that I see is that the bubble started in 1995 and the bubble retrace theory says that we have to retrace the whole thing. Whenever I bring this up in the 3D world, people point out that the market would be pricing in zero economic growth for the past 7-8 years. My only comment is that, as far out of whack as we got on the overvaluation side, we can get that out of whack on the undervaluation. What it turns into is a supply and demand equation for equities rather than valuation model. My goal is to have cash ready to deploy at or near the bottom as it should be the best opportunity for a long term buy and hold strategy that we will ever see.

Pricing in 7 to 8 years of zero economic growth may be appropriate when people start to perceive that the "growth", or much of it, was phantom anyways.
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