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Strategies & Market Trends : Buying SPLITs and other Strategies

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From: Terry Whitman	4/18/2020 8:45:08 AM
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NEAR A TURNING POINT? IMO, the current market is most like the top of the Y2K market. Let's have a look. Exhibit A: Chart of the Nasdung from the 2000-2002 Bear Market Event/timing description below chart. This is a Weekly Chart with a 40 wk. sma DATE EVENT 3/6/00 Secular and Cyclical Bull Market High 11 weeks 5/22/00 Initial Low (-41%) 8 weeks 7/17/00 Rebound high (+40%) 12 weeks 10/9/00 NEW LOW To summarize: 1) The Nasdung had a long bull run prior to Y2K, with a 'blow-off' top to finish it (March 2000). The 'blow off part lasted about 20 weeks. It was apparent to anyone with an objective mind that stocks were incredibly overvalued. 2) The initial sell off lasted 11 weeks (to week of May 22), and shed 41% off the all time highs. It retraced most of the final 20 week blow off. 3) The initial Countertrend (Bear market) rally lasted 8 weeks and climbed 40%. This move had the greedy bulls all salivating for another run at new highs. It topped the week of July 17. 4) BEARS then took control and quickly took the market to NEW LOWS within 12 weeks. 5) Ultimate Bear Market low in 2002, much, much, lower. Current market similarities to follow. MTW

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