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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 677.58+0.3%Nov 5 4:00 PM EST

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To: HairBall who wrote (8538)3/20/1999 8:58:00 AM
From: Vitas  Read Replies (1) of 99985
 
Alan Greenspan's contribution:

"History tells us that sharp reversals in confidence happen abruptly,
most often with little advance notice. They are self-reinforcing
processes that can compress into a very short time period. Panic market reactions are characterized by a dramatic shift to maximize short term value, and are an extension of human behavior that manifests itself in all forms of human interaction - a set of responses that does not seem to have changed over the generations. I defy anyone to distinguish a speculative price pattern for 1999 from one for 1899 if the charts specify neither the dates nor the levels of the prices."
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