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Strategies & Market Trends : Classic TA Workplace

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To: mishedlo who wrote (85744)	11/13/2003 10:13:08 PM
From: bcrafty	Read Replies (1) of 209892

mish, I see echoes of bobcor's "canaries" thoughts throughout that article. He makes a lot of good points, all of which are well taken. It's only at the very end that I think he might be speculating a little to far when he says "The consumer spending patterns in the upper middle class are too dependent on the confidence brought on by the overpriced and rising stock market." With that statement I'm wondering to myself just what real people is he basing that thought on. It's certainly not any of the upper-middle class people I know, whose B&H portfolio is still in the crapper from the decline in 2000, and are now working harder than ever to try to something to their IRAs to make up for the time they lost waiting for the market to come back. The people I know are as convinced as anybody that the worst is not over, and they are not spending frivolisly in any way I can see at all. He might be basing his theory on theoretical people rather than real ones. A minor point, to be sure, but nevertheless it shows that he might be stretching his analogies a little.

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