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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (6785)	11/19/2001 7:49:30 PM
From: ajtj99	Read Replies (1) \| Respond to of 99280

Zeev, that was my point about the RSI. When we've had such high readings in a bear market we've had pretty good pull-backs. I do not think it is fair to compare this current market with the fall 1998 market as some are. The economic conditions are far different now in the US. At that time there was a crisis that did not materially effect the US and Europe all that much. The economy of the US was still growing, and everything was rosy. Not so right now. The news is bleak, the future is uncertain, and the Fed can't do much more than it already has. Furthermore, people do not feel safe, their incomes are not improving, and job security is not a sure thing. Add in the fact that business are giving away the store to keep consumers spending and commercial accounts buying, and the blueprint says the market is a little ahead of itself. We are a bit like many 3rd world countries right now in that we have a scapegoat for all of our problems - Bin Laden. It seems that as long as we have the advantage over him and he is on the run, the market will keep rising, or so it seems.