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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lee who wrote (17102)	5/7/2003 3:11:15 PM
From: Alex MG	Read Replies (1) \| Respond to of 19219

why is this same situation now bullish? maybe because Barron's says so, front page they just declared "the Bull is Back" and just today-- Goldman's Cohen Sees S&P 500 Up 25% Over The Next Year By Karen Talley Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--It's time to put more faith in riskier areas of the stock market, says Goldman Sachs chief investment strategist Abby Joseph Cohen, who sees the Standard & Poor's 500 Index rising roughly 25% to 1150 over the next 12 months. "We expect stock returns to exceed those from bonds over the next 12 months," reversing a three-year pattern, Cohen said in a note to clients, adding that her model portfolio emphasizes stocks with economic sensitivity and "high beta," or a propensity to be volatile.

To: Steve Lee who wrote (17102)	5/7/2003 3:53:56 PM
From: Terry Whitman	Respond to of 19219

Indeed it does look similar to the fake out of last spring- that's exactly why many Technicians will just be watching this time, expecting recent history to repeat.. The main difference is that it's now a year later. It's also now yr. 3 of the presidential cycle. In the interest of full disclosure- I did call for the start of a cyclical bull market in late winter of 2002, and that did not occur. I underestimated the length of the 4 yr. cycle on the downside. Oh well, that just makes the recovery cycle that much steeper.