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Strategies & Market Trends : Classic TA Workplace

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To: Lee Lichterman III who wrote (78000)7/28/2003 7:22:14 AM
From: skinowski  Read Replies (1) of 209892
 
Someone in authority needs to explain the Joe Six pack that 1994 to 2000 was not normal (...) Even after the last 3 years, they still don't get it.

In EW terms, this means that in your perception the Wave 3 down - the true Wave of Recognition - has not occurred yet.

I think that serious "recognition" did take place in the OTC's - but not in the DOW/SPX. These two (or, at least the DOW) on their long-term chart are still passable (so far) as a high-level consolidation, as mere corrections. Enough time has passed for the emotions to settle down - and for people to begin again thinking that perhaps it was only a "Tech" bubble.

IMO, it would take more then a speech by AG to convince the public that this time the Bear is different.

Besides, why would AG or other politicians want to puncture the bubble? They may well think that inflating the bubble further may serve better the long term interest of both the Government and large segments of the business community and the public (the debtors). (I was hoping that someone would destroy the arguments I made to that effect yesterday and previously, but no one mentioned them)
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