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To: Haim R. Branisteanu who wrote (114116)7/24/2001 1:46:54 PM
From: pater tenebrarum  Read Replies (1) | Respond to of 436258
 
Haim, you could be right, but i still think that a post bubble environment is markedly different from ordinary downturns. the things that mean something ordinarily may not mean something here and now.

as for the bulls/bears, the recently polled bear percentages were the worst in years...again, that's not a guarantee of anything, except that it probably precludes any perceived moonshot scenarios.

i agree of course that one needs to buy BEFORE the economy bottoms, but as far as i can tell, from both the sentiment data i'm watching and the anecdotal evidence, virtually EVERYBODY is eager to pick the bottom here. real bottoms occur when nobody cares anymore, or people are scared to death.