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Strategies & Market Trends : Bear!
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To: Lucretius who wrote (50)5/3/1998 5:49:00 PM
From: Les H  Read Replies (1) of 271
 
<<< Show me one phase in history where a bear market happened in this kind of circumstances, ie, where truly revolutionary technogical changes are taking place. >>>

The 1970's when the economy was transitioning to service economy.
The underperformance of the Dow and S&P in the 1970's also can be
traced to the fact that many of the new economy companies were still
in the Nasdaq that decade. And a number of faltering industrial
companies (Chrysler, Intl Harvester, etc) were in the Dow and S&P.

<<<1929..... the industrial revolution was in full swing...>>>

As I recall from programs, the economy had already been in a recession for two quarters when the market crashed. The market had topped several months prior (the old Dow theory: Dow and Transports need to reconfirm highs within two months.) to the crash.
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