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Strategies & Market Trends : Classic TA Workplace

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To: SwampDogg who wrote (86582)	11/28/2003 7:29:46 AM
From: Jerry Olson	Read Replies (4) of 209892

Morning fuddle et all 30% move down? i really doubt that. If you're thinking and investing that way i think the pain will be severe to say the least. 2-3 years ago that was possible as the markets began to correct from much higher levels. But the stock market is a precursor to the health of the economy and it's saying things are looking better not worse. In fact Global economies are rallying as we speak to new all time highs. You do not get 30% haircuts in this environment. Even a catastrophic event may not be able to do that. While I fully expect another test of the recent lows at around 1030 SPX and maybe a break down to 1000-1010 levels with 1025 heavy support, i can not fathom a 300 SPX loss at this time. It's not going to happen. Only those people that have missed this sensational rally can "hope" "wish" and "pray" for something like this to ocurr, to try to get back in the game long. It's way too late for that. Buy this next pullback during Dec and take the ride on the train heading north. good luck jerry

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