Lizzie, re "Unprecendented really, a bear market like this 4 year period. "
There are bears ... and there are bears. There are papa, mama, and baby bears. There are papas, mamas, and babies. Sometimes papa is a bear ... and sometimes papa is a bull. Sometimes mama is a bear ... and sometimes mama is a bull. OK, that's stretching the analogy a lot, but you get the idea. :-))
Papa -- the long-term trend -- is a bull. The markets have been trending upward for decades.
Mama -- the intermediate-term-trend -- is a bear (might as well stick with this ridiculous analogy). The market has been trending downward since Oct '02.
Baby -- the short-term trend -- is a bull. The market has been trending up since Oct '02.
Oh, "But what about the market since early this year?" you ask. It's a bear, of course, but still just an embryo IMO.
IOW, it wouldn't hurt to look at a long-term chart once in a while. And make that a *logarithmic* chart.
:-)), Ron |
