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Strategies & Market Trends : Galapagos Islands
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To: ajtj99 who wrote (12322)11/10/2002 9:37:36 PM
From: TREND1  Read Replies (2) of 57110
 
aj99
you wrote
Until the circle of optimism is crushed, we'll have no bottom in the COMP. I have that optimism crushing happening tentatively in about a year, on a re-test of lows 40-45% below the recent highs.

answer:
The above statement BS. IMHO.
Why? Because you show no chart or reasons
...................................................
You wrote
Did you read the recent article from Fleck noting that major market bottoms are not made until 50-75% of the issues on the major indices make new lows? The Sept. 2001 bottom only had about 30% of the issues on the COMP at new lows, and the July low was less than 20%.

answer:
(1)Years ago the new highs and new Lows were always started
in March. So they were 12 to 15 months.
(2)Now the new Lows and new Highs are always 52 weeks back
(3)Percentages depend on how many stocks are in index.
Zeev has data on how small the Nasdaq has gotten(g)
(4)Fleck has always been a BEAR from day one.(g)

.................................
That all said. We are in a bear market and some day it will
end. BUT NO ONE REALLY KNOWS WHEN. IMHO.

Finally....I find it hard to take your statements, when you
promised 1,000 on the Nasdaq this October. And we still have not seen 1,000(g)

Now this may sound nasty, but is not meant to be nasty.
I just wish we could stick to facts.(ggg)

I need you point out FACTS, like my recent errors(g)

Larry Dudash
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