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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Bull RidaH who wrote (43600)	3/19/2000 5:17:00 PM
From: Zeev Hed	Respond to of 99985

David, if memory serve, on that fatal day in August of 1982, the SP PE was under 10, and we terminated a series of close to 10 days without a single new high on the NY. I remember counting them, and finally saying, enough is enough and turned around. Today the conditions in the general market are so much different that such a rebound, while possible, will have less of an impetus, people looking all the time at the exit fearing the next debacle. Of course, that may set the stage (wall of worry) for that crazy number my turnips came up with for the DOW (13.500, yes, I am laughing too) peak. Strangely, they had 5000 for the NAZ peak and if they are right (and I doubt they are), then we should see sideways on NAZ and a roaring old economy, somehow, I cannot visualize this. Zeev