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To: epicure who wrote (32527)5/11/2000 12:21:00 PM
From: pater tenebrarum  Read Replies (1) | Respond to of 42523
 
it's actually quite simple...if a bear market has indeed begun, no statistics, no upgrades, nothing will save the market from sinking further. unfortunately there is no way to tell for sure if that is the case. if you look at the indices aside from the speculative NAZ, they are mired in a trading range that has lasted for well over a year now. only when that trading range is broken will we be able to declare a bear or bull market to be in force.
one thing that is remarkable is the public's unbridled optimism in the face of this so-so performance.
coupled with the extremely low cash-to-asset ratios at the mutual funds this seems indicative of a top of some importance.