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Gold/Mining/Energy : Big Dog's Boom Boom Room
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From: Kayaker11/1/2008 12:20:33 PM
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Better to be on sidelines than lured in by bear market rallies
DAVID PARKINSON
dparkinson@globeandmail.com
October 31, 2008

In the past three days, the stock market has brought new hope to battered investors. But in a bear market, a little hope can be a dangerous thing.

Yes, it's true, the S&P/TSX composite index has just peeled off three consecutive winning days (including yesterday's 355-point jump), something it hasn't done in seven weeks. And just look at those gains: More than 1,300 points, or 15 per cent, in the space of 72 hours.

And what about our neighbours in New York? Yesterday's 192-point gain on the Dow Jones industrial average builds on Tuesday's 900-point surge, with just a minor 70-point pause sandwiched in between. The Dow is up more than 1,000 points since Monday.

That kind of move is hard to ignore. But is it evidence that the bear market has finally bottomed? Is this what an awakening bull looks like?....
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