Longer-Term Market Trends Message Board

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Strategies & Market Trends : Longer-Term Market Trends

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To: NOW who wrote (2117)	3/6/2009 2:10:11 PM
From: Perspective	Read Replies (1) of 3209

I know we're headed to that 1994 level - the bubble takeoff point - but even this grizzly bear didn't expect it to happen all in this first wave down. The other thing that I think is hugely missing at this point is a backtest of the 2002 low failures. I just don't think you say goodbye to them without coming back to kiss them again in a significant way. The interpretation I have for the constant bleed is not attractive, but may make some sense. I wonder if there really are ANY shorts left out there. I mean, I consider myself to be one of the most bearish folks out there, and even *I* started covering everything a few weeks back, and was reluctant to heap on any new exposure. I expected more than a few weeks of up after the 50% drubbing all around. Christ, the banks have now taken out the 1994 lows without much fanfare at all! This is a market that has been ignoring support. I'm questioning just how many bears are out there to provide fuel for short covering. I guess there are the folks holding the inverse funds - SDS DXD etc. Do those shares get destroyed if enough people want to sell them? `BC

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