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

To: BGR who wrote (29186)	4/25/2000 7:49:00 PM
From: pater tenebrarum	Read Replies (2) \| Respond to of 42523

well, since margin debt exploded at an unprecedented pace in recent months, it is a fair assumption that many were on margin and have therefore been wiped out, or nearly so. i admit that since the bubble has become utterly irrational in terms of valuation it is partly a matter of faith that this rally will be the last. however, i mainly base this belief on the fact that the monetary base has begun to shrink from its all time high in early January. at the same time, the secular bear market in the vast majority of stocks continues more or less unabated. so all that's missing is a sell-off in the crowded trades, the index biggies. those are the ones whose life support is slowly removed by easy Al. as for the time frame, i said already, June/July would be a good time to make a top. i could be wrong of course insofar as we might just as well continue to tank right away. it's only that i assign a lower probability to that in view of the improving technical picture of the market.