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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: rsie who wrote (5281)	6/24/2010 10:09:41 PM
From: Investor2	1 Recommendation Respond to of 10065

RE: "we are in a new era similiar to the 70's." That sounds correct to me. Best wishes, I2

To: rsie who wrote (5281)	6/25/2010 2:32:29 AM
From: marc ultra	3 Recommendations Read Replies (3) \| Respond to of 10065

<do you think we are going to test for a third time and then may be off to the races again? It's certainly possible. We had the 1040 correction low put in with the selling climax on the morning of 5/25. We successfully tested that on 6/8 when we got down to 1042. The last time we had an over 10% correction in an ongoing cyclical bull market in one of these midterm election years that are both 2 years before and 2 years after a Presidential election was 1998. As Bob and others have noted these mid-term election years have an incredible history of almost always producing a major correction or bear market bottom followed by impressive gains. In 1998 we had a final retest of the correction bottom in November which was followed by the market going all the up to the 2000 top. So is it possible that we'll have a similar retest like that and send all the sell in May and go away people who buy back in on 11/1 home ecstatic? Sure it's possible but I'm extremely bullish right now and have been buying stuff every time we dip back toward the 1050 area. So if another retest happens it happens but I'm positioned very aggressively again at the moment for what I believe is the next leg up in the bull and think market fundamentals are as good as I've seen in a long time so I'm not looking to get too cute about it and try to guess whether we may have that further retest. I certainly don't think we're in a bear market and in 1998 we did get down to a 19% correction before it was all over and had the huge upmove. So I'll say a lot of things can happen but my bottom line remains whenever we get down in that 1050 area I think it's a great buying opportunity. Like Bob I can certainly end up wrong.