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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: CYC who wrote (9735)	2/15/2000 2:32:00 PM
From: pater tenebrarum	Respond to of 42523

essentially the bear began in early January of '73, and it was a slow grind down at first. at the beginning of the last quarter, the market made a pretty vicious and convincing bear market rally, that was aborted after about 1 1/2 months. from there the decline intensified and accelerated into the '74 low reached in October of that year. the low represented a 50%+ decline in the major averages. thanks for the Faber link, and yes, it's very difficult to derail a mania. in the end it is often what at first seems an innocuous event that gets the ball rolling...