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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: Killswitch who wrote (14943)11/1/2002 12:51:05 PM
From: High Country Trader  Read Replies (3) of 19219
 
>>>>...This is not the sentiment I would expect to be seeing at a real bear market bottom......<<<< Brian, we actually don't disagree here. Some sentiment indicators haven't gotten anywhere close to levels associated with past bottoms. As for those on TV who are 100% sure we have hit bottom, they have been saying that for what, the past several thousand points down and have already been discredited and wrong. But you have to respect rising prices and especially the market's resilience this week. I have quit trying to have opinions on the market as I'm usually wrong and a trader with an opinion usually ends up broke over the long haul. Had I traded on my opinions the past x amount of years, I would have been bankrupt long ago. But maybe it's possible we will enter or have already entered a cyclical bull within the confines of a secular bear. So we go back to Dow 10,000 and Nasdaq 2000 where the bullishness becomes rampant again and then we go back and make new lows in the secular bear. I would have thought after such a huge decline the past few years that it would have wiped out the residue of the ingrained bullishness of the late 90s, but I guess it's going to take something really bad and unforeseen to ever accomplish that.
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