Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: bearshark who wrote (21609)	7/25/1998 9:53:00 AM
From: bearshark	Read Replies (5) of 94695

Meet the bear! General bear markets are fading memories to even the oldest of SI posters. In many cases, SI posters have never experienced one. However, I have found at least one sector that provides an excellent refresher course for bear markets. That is the "Strictly: Drilling and oil-field services" thread. Subject 12099 What makes a bear market are the people in it and the experience of the posters to this thread provides vivid memories for me. The bear market in the industry started in November 1997 and continues today. The industry comes with its own index--the OSX--which makes the move easier to follow. 207.95.154.130 Dow Theory explains that primary downtrends are usually characterized by three phases. By looking at the chart, it appears that the OSX may be in the second phase of the decline. That decline started at about 140 and is now just above 70. The effect on individual stocks is also quite impressive. For example, two stocks that I remember from the 1970s are also down about 50%. 207.95.154.130 207.95.154.130 Some younger companies have been treated more harshly 207.95.154.130 Bear markets are unrelenting. That makes it difficult for traders who realize they are in bear markets. In the end, many bulls and bears are left by the roadside in a bear market. Good luck to us all if we ever experience a true general bear market again.

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