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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (12321)	11/10/2002 9:01:23 PM
From: ajtj99	Read Replies (3) \| Respond to of 57110

Larry, remember how important the Sept. 2001 bottom was? Remember how it was supposed to last according to most who were saw the internals? Until the circle of optimism is crushed, we'll have no bottom in the COMP. I have that optimism crushing happening tentatively in about a year, on a re-test of lows 40-45% below the recent highs. Did you read the recent article from Fleck noting that major market bottoms are not made until 50-75% of the issues on the major indices make new lows? The Sept. 2001 bottom only had about 30% of the issues on the COMP at new lows, and the July low was less than 20%.