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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Taikun who wrote (52092)	8/5/2004 2:57:44 AM
From: macavity	Respond to of 74559

Yes both. I believe that we saw a 'Secular' bottom in Japanese equity in 2003. Similar to 1982 US Stocks. Requires confirmation. We may be seeing a 'Cyclical top' - but we are no way near confirmation. Requires 10849 to break. This may sound like sitting on the fence but it all depends on timeframes. The fact that there are many stocks at multi-year highs signifies that we are witnessing a real (secular) change. The fact that psychology doubts it should not distract from this. Secular: Momentum Bullish ; Trend Neutral Cyclical: Momentum Bearish ; Trend Bullish -macavity