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Strategies & Market Trends : Why the markets will continue higher...
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To: GROUND ZERO™ who wrote ()9/10/1998 10:22:00 AM
From: WhipsawMcGraw  Read Replies (1) of 745
 
The market has away to go down anyway. The high will be Dow 7000 and the low will be down 5500. This is my prediction but most of the new highs in the past were due to the record short position in stocks.
1. You have people buying to cover losing short positions.
2. People buying stocks to invest
3. Mutual funds, hedge funds, 401K investments
All of these are bull signs but the buying dried up. The most important aspect of all of this is that before the Dow has cracked in the past, you have seen buying come in (Tuesday.)

What everyone needs to understand that there is a good chance that the market will hit a low and go sideways for years. When we hit the bottom don't expect the market to run back to Dow 9,000. Stocks may become cheap but that is justified with lower earnings.
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