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To: philipah who wrote (61824)8/5/1998 12:13:00 AM
From: Jim McMannis  Respond to of 186894
 
Ultimately, rates, inflation, earnings and retirement/savings money influx will determine the direction of the market but emotion and anticipation will cause the market to stretch either way off its path.
Sometmes the market just looks for an excuse to do something. The guru dejour is sometimes the trigger...The markets have already proven Acompora wrong. A much larger than life guru would be Joe Granville
up to 1982 or Robert Prechter up to 1987. These guys could literally move the market but the markets changed and the indicators they had been using didn't work anymore..or maybe they were just incidental to the direction of the market anyway. They both made bold bearish statements right before they markets took off for good....Granville changed his mind and Prechter never has...
Jim