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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Rich1 who wrote (45797)	7/16/2000 3:49:37 PM
From: allen menglin chen	Read Replies (1) \| Respond to of 63513

Bear Trap for Bulls gold-eagle.com A bit too bearish for me. :) ... The ratio between any two Fibonacci numbers, called the Golden Ratio, approximates 61.8%. The golden ratio is ubiquitous in nature, architecture, and engineering, and also in financial markets and technical charts. A 61.8% retracement in the NASDAQ would take it to approximately 4350 before it runs out of rocket fuel and begins its terminal descent? The plot thickens! The eternal equity bulls would have us believe the worst is over and the bull market will resume. Maybe they are right? but the poignant lessons of financial history, the immutable financial laws of returns regressing to the mean, the consequences of massive overvaluation, and the mighty weight of probability indicate the NASDAQ has a LONG way down to fall before speculative excesses are wrung out. ...