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Strategies & Market Trends : Waiting for the big Kahuna
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To: Barbara Barry who wrote (20191)6/12/1998 1:52:00 PM
From: Oeconomicus  Read Replies (1) of 94695
 
I bet we get another bull trap or two!

I agree. *IF* this is the start of a bear market, we will surely get bull traps. That said, I decided to pull out a long-term (OK, 5 yrs, but that's long-term these days) Dow chart. The trendline (log chart) looks like it runs to around 8300 right now (just eyeballing it), so a 10% correction would leave that intact. At that point, if we don't blow right through of course, I'll wait for some real evidence of a recession.

Ouch, we're getting quite a bounce now.
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