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Strategies & Market Trends : LastShadow's Position Trading
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To: Susan Saline who wrote (8720)2/17/1999 5:31:00 PM
From: LastShadow  Read Replies (2) of 43080
 
"this is a dip in a bull market"

Yes it is. But it isn't just profit taking. Its a correction. One can correct and still be in a bull market. If it were healthy profit taking, then that would ocur only in thestocks for which the price was inflated, and not actross all stocks sectorwide.

A correction brings the stocks prices back in line with the trendlines, to a place where their valuations and multiples are consistent with their price.

" if you go look back at the OCT lows ... many stocks are at/near those lows."

That statement I have a real problem with. They aren't anywhere near the Oct lows. Of the 200 stocks I follow they average 122% higher than their October lows. And I don't expect to see them back at that price, but still lower than they are today.

There just isn't any reason to buy right now. Being lower in price than it was a week ago isn't good enough, because the fundamental data says they aren't a good value. Its that's simple.

ls
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