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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: accountclosed who wrote (17885)2/3/1999 6:18:00 PM
From: Terry Whitman  Read Replies (3) of 86076
 
Frankly, that post scared me. Confident bears are not what I like to see. If there's still confident bears out there we may not be as close as i thought. Here's why-

<< Bull trends end with the vast majority of the traders and investors overwhelmingly bullish. Bull trends frequently surpass even the most extreme projections of traders and analysts. When the last trader and analyst have capitulated and given up projecting a trend reversal top, it is a sign that a top is imminent. The final leg up in a bull trend is often a buying panic to new highs at a greater rate-of-change than past advances. The aftermath of the final buying panic is often a sharp reversal with panic selling as sellers panic out of their positions even faster than they panicked in. The second decline (wave B or 3) of a major bear trend is often even more severe than the final buying panic as traders and investors wake up to the reality that the price of their holdings was not related to their value, real or imagined. >>
from dynamictraders.com

We may not have had that final leg up yet. What really scares me is what will happen when they let Slick off with a tap on the wrist. -ng-

If the bulls can rally on a 'non-event' by the Fed- they're gonna party like it's 1999 when Slick gets out of jail.

TW
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