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Strategies & Market Trends : Classic TA Workplace

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To: cthruu who wrote (110828)	12/30/2004 8:23:02 PM
From: bcrafty	Read Replies (1) of 209892

ct, here is a like-minded thinker for you Don Luskin quotes Fred Goodman on the 1999 comparisons to 2004: My technical analyst friend Fred Goodman, who publishes a daily report on my Web site, feels the same way. Over the last couple weeks he's noted that this holiday season's market action has been eerily reminiscent of what happened in 1999. According to Fred, each day's changes in both price and volume have matched to a "T" the changes that occurred on the same calendar days five years ago. So let's say the 1999 matching pattern continues? What's next? Remember that as the new year of 2000 dawned, stocks sold off hard. They recovered over the following weeks, and went on to make the bubblicious top of March 2000. Fred's not forecasting a March 2000 run for the roses -- but he is forecasting a near-term pullback, and I agree. moneycentral.msn.com

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