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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (10673)	11/21/2008 12:44:44 AM
From: John Pitera	Respond to of 33421

Tom, I am finding it interesting that Gary Shilling and Louise Yamada are both commenting that this break of SPX 775 means that we are in the same bear market that started back on March 10th of 2000. That's been something I have been saying for years, it seems I always felt that the move off of the Oct 2002 early 2003 lows was a bear market correction, the proverbial "B" wave. In many ways it had the type of speculative excesses that are typical of Ellitt "B" waves. Now this decline from 1576 or so has had those killer trade markets of real stock blow ups, and vicious selling. Also the psychology is really getting more negative. I think we are realizing that we are not going to see a nice shallow economic slowdown and a relatively quite recouping of the market capitalizations we saw in 1999-2000 and again in 2005-2007. Great stats on CNBC that 1/3 of all of the SPX 500 stocks do not have the 4 billion market cap that was necessary to get them into the index. 10% of the stocks are trading below 5 bucks. And what the hell happened to AMD.... trading at 40 back in early 2006 and now it's 1.91 a share? Yikes. MU from 18 bucks in sept of 2006 to 1.69... and that one latched onto the .com mania and was trading at 97.50 back in Aug... of 2000. market capitalization is just going up in smoke *straight to Money Heaven* the problem is it's happening with all asset classes...... the black hole. as I type this out Conan OBrian, was just making a joke and when the audience gives him applause about mentioning Texas he said ....what is this ... If I mention the Galapagos Islands and turtles you will all be clapping....... hummm .... what type of syncronicity is this? I don't recall if you remember the joke I made about Bald Man from Mars being absent from SI way back when and I was joking he was on his sabbatical in the Galapagos Islands. c'est la vie. John