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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Daveyk who wrote (3292)	2/21/2001 1:14:18 PM
From: Yorikke	Read Replies (1) \| Respond to of 33421

The Wasp........perhaps that's the problem in looking at this market, people are using very outdated icons to attempt to make sophisticated financial decisions. Maybe there is a third market icon; the Wasp, which lays its young within, which then consume its victim from the inside out.

To: Daveyk who wrote (3292)	2/21/2001 3:48:56 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Thanks Dave, I used to wonder how they dreamed up the idea of a bull market and a bear market. Down by Wall Street in Manhattan they have a huge metal bull sculpture along the road, it really caught my attention when I first saw it. John

To: Daveyk who wrote (3292)	2/21/2001 8:52:30 PM
From: John Pitera	Respond to of 33421

Since it's trivia day today.........Here are some links that Heinz blaznik has provided: here is a link to free historical charts: sharelynx.net here's a historical data vendor, where one can from time to time download data for free (this week historical tick data are offered...one needs to register however): mdshistoricalquotes.com the dates and numbers sound about right to me...Dow low in early July '32 just above 41 and S&P index was created in '28 - however, a theoretical S&P has been calculated as far back as 1871: cpcug.org chart.yahoo.com Heinz and I were talking about what the SPX low was in 1982, and about the DJIA low back in 1932 averages.dowjones.com the famed DJIA 1930's bear market low was on Friday July 8th that day had an intraday low of 40.56 and a close of 41.22 the DJIA Low in 1982 was on 776.92 on Aug12th. the SPX low in 1974 at the end of the liquidation bear market was on Oct 4th 1974 4-Oct-74 Open-- 62.28 High-- 63.23 ..... Low-- 60.96 ... close-- 62.34 Reflecting on the DJIA July 8th 1932 low reminds me that July 8th was the birthday of Junius Pierpont Morgan and also John D Rockerfeller, JPM was born in 1837 and JDR in 1839. Andrew Carnegie and Jay Gould were also born in the same era, Carnegie in 1835 and Gould in 1836. Although those 2 were not born on July 8th. But they all helped to create the business environment when the huge empires were built. Rockerfeller was still alive and playing golf in 1932 and he and his fellow standard oil titans, has enough money that Rockerfeller could have looked at the tremendously oversold DJIA down at 40 on July 8th of 1932. and said "Hell, I'm 93 and some of these stocks look dirt cheap, I'm gonna buy some for as a birthday present for myself, and the country at large " -g- one never knows...... they did construct Rockerfeller center during 1931 and 1932 at the height of the depression when materials, labor and all the other associated costs were very, very low...so he was not a bad market timer :-) John