Tempting the Trading Gods
By Gary B. Smith
02/03/2003 08:05
Well, I think it's official: There's no chance the current decline will stop at the October lows. And we all have Bill Miller at Legg Mason to blame!
From Barron's this past weekend:
Q: So, the bear market is over?
A: Yes. It ended Oct. 9.
Now, if you really want to irritate the trading gods, that's a pretty good start. Personally, I would have gone with, "In my experience, the bear market is probably over." Or maybe, "In the past, days like Oct. 9 have historically marked a bottom." Or even, "My guess is the bear market was over Oct. 9."
What you don't do is flat-out say, "It ended Oct. 9." I mean, you might as well send an engraved invitation to the trading gods to deliver locusts, plagues and, oh yeah, a severe market selloff.
So, thanks, Bill. See you at Dow 7000! |
