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To: Sig who wrote (9978)11/27/2002 1:47:29 PM
From: Sig  Respond to of 13815
 
Being in this market the last few years has been like living under a solid overcast with thunderstorms, high winds and hailstorms and mere glimpses of sunshine.
Now the skies are much clearer but the natives are still cautious and leery. A few clouds or rain and they run for cover, some thinking the big storms will return, and sell their stocks.
We will never have completely clear skies, which is good because if we did everyone would be in the market and the prices sky-high which would bring back the clouds and storms .
Comparing the bubble to 1929 is ridiculous. There have been quantum changes since then. Comparing to Japan
is also useless.
Using the 4 year cycle in equities is more realistic, but if that is a psychological thingy, perhaps it may be shorter now as things move faster each year. But if it holds we are at the bottom and starting up.
Sig



To: Sig who wrote (9978)11/28/2002 10:41:54 PM
From: Boplicity  Respond to of 13815
 
re: Risk to the downside today is about as small as we will see it

I agree with that with a caveat of course. I'm still in the camp of endless sideways move with many playable rallies, just like we are in the mist of right now. What needs to be watch is how hard it is to turn the tone of the market and the story or stories that are driving it. If the negative stories cause one or two day down days, turning them into correction, (remember those LOL) then up days on strong vol. passing the level where the down days started in one day, then it's obvious the rally has more legs.

Also, an aura of disbelieve in the rally is good environment to operate in for the early bulls.



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