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Strategies & Market Trends : Waiting for the big Kahuna
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To: Denise Hayward who wrote (14722)3/7/1998 9:08:00 PM
From: James F. Hopkins  Read Replies (1) of 94695
 
I've said it before and I'll repeat it , there is no way a 1929
model can be used to explain the market today. The nature of the
market , mutual funds, lack of gold standard, futures, and
options make comparing them such a total farce that I can not
grant any thing but contempt to those who use artifice on the
gullible in their attempts to induce a fear so that the market
and perhaps them with it can feed off that fear.
The Market feeds off fear and greed that is about the only thing
that has not changed since 1929.
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It takes a strech of the imagination to even compare 1987 charts
to charts of this day. It is done by people ignorant of the
fact that the market is dynamic and responds to forces
that did not exist even 10 years ago.
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Sure it will go down, but when for sure a drawn out
over time & simplified TA won't tell you, TA HAS IT'S LIMITS
the main one being it can not be extended over a period of
time that contains not half the factors in place that are in place
today, it is insane. And will have you selling when you should
buy and buying when you should sell.
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NOT ONE so called TA EXPERT I know of said that that the market would be this high back in 96, not one.
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Jim
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