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Strategies & Market Trends : Waiting for the big Kahuna
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To: Fiscally Conservative who wrote (87618)5/29/2009 10:07:31 AM
From: Real Man  Read Replies (1) of 94695
 
Yes, that among other things. Never underestimate the
power of the printing press to push stocks higher and
the ability of the government to replace an economic downturn
with inflation. I made that mistake in 2003. The bull that
was not supposed to start went on for 4.5 years. The bubbles
were here to stay and grow bigger. This is a bear market,
but the government action has always made it too dangerous to
short. Sell and hold is simply not profitable. Here is the
REAL DOW, it dropped about 85% from the top in 1999. But if
you shorted it between 2003 and 2007 you got killed.

Not much of a bounce on that chart, by the way.
By the way, this chart also indicates we are closer to the end
of the secular bear market in stocks than we are to
the beginning, which is why the economic crisis has been
so severe.

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