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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (21302)11/8/1998 5:10:00 PM
From: Ross  Read Replies (1) of 50167
 
IQ,

You said:

"every 'guru' who missed the market including MR Accompora
and oterhs are teling their chumposs to get in at 8300-- this is non-sense
of highest order markets fall when every one expects that markets
will gpo higher"

You make a very good point here. And I see many bears are
beginning to admit they were wrong and awaiting a pullback
to re-enter "long" (though silently). 8300 Dow is a common
number and 10300/10500 S&P is likewise..

Now, if this is true, and everyone is beginning to believe
that the market will go higher.

(I was listening to a prediction of 22,000 Dow recently)

How does that play with your comment; "markets fall when
every one expects that markets will go higher"?

Don't we seem to be moving into that area of overly optimistic
bullishness. Or are there just to many bears on the sidelines,
still to be slain, for the market to retrace?

This all makes me think of something I read:

A favorite device with him was to institute inquiries in the
presence of the crowd around him as to the roads and watercourses
in a direction which he did not intend to take; even to order maps
to be prepared, and roads laid down, as though for instant use.
Having thus set every gossip talking and predicting his intentions,
he would calmly march directly in the opposite direction..

By a Virginia admirer from
The Life of Stonewall Jackson

Ross
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