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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (13702)11/9/1997 1:16:00 AM
From: Getcher  Read Replies (3) of 50167
 
IKe,
I am catching up on the posts this weekend. I don't know if anyone has pointed to this one fact ... if it has been covered already I apologize.

In the history of the stock market since 1946, there have been 28 times where we experienced a 10% decline off of a high. In only ONE occassion did we have a "V" bottom ... 1955 when Ike (The other Ike!) had a heart attack, the market quickly rebounded when it was found he was fine creating a V-Bottom. On two occasions we did not get a bounce. But in 25 occassions we retested the lows within a two-month period of time after a bounce up.

Now we have had our bounce up. It has been a healthy one. I cannot see us NOT retesting the 7100-7200 area at the very least. All of the reasons are there to take us lower at this point. Plus you will have the fear of the "unshakable public" moving the market if we do slide a few hundred points. Joe Public can only take so much before his hidden fears turn him for the exit. This may take us to bear territory if we lose Joe Public's attention span!!!

I thought I would throw out the interesting facts on the low retesting. All the rest of my thoughts can be burned with the rubbish ... interested to hear your thoughts here Ike. I'll bet your happy to be back in Paris ... If I went there I would be worried that I could never leave.

GETCHER
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