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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (65498)	9/30/1999 5:18:00 PM
From: Defrocked	Read Replies (2) \| Respond to of 86076

There are far too many (which is bearish) commentators and thread denizens saying "Too many bears are looking for a decline" or "This market will bounce again" or "The wall of worry...blah,blah,blah." The fact is the vast majority of investors are tremendously long with large unprotected gains. The bulls are complacent and expect bounces. Moreover, even the bears are conditioned to expect bounces on any declines. The US equity market is "set-up" for a crack because the super-majority of investors, bulls and bears, are all looking for a bounce despite rising rates, a falling dollar and no fundamental value supporting prices.