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

To: Honey_Bee who wrote (6227)	8/11/2011 1:17:27 AM
From: marc ultra	1 Recommendation Read Replies (2) \| Respond to of 10065

<he talked about how he had been buying stock. He had to be talking about personal money. Yes. Once we got to close to a 7% correction that usually makes it an attractive buy point. But if the correction unexpectedly continues beyond 10% as it did, then in Bob's mind things change and we're looking at an extended process that usually needs a retest before it's completely over. That retest particularly with the desired qualities, would usually then make for an outright strong buying opportunity. Now we're still down around 18% so if we did go down to a clear close over 20% down for any significant amount of time then we'd be in a bear as we did in 2008 and he'd be wrong. In that 1998 correction this looks like, we were down over 19% but fell just short of 20% before we exploded up following the retest.