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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Gerald Walls who wrote (17682)	8/29/1998 12:11:00 PM
From: Lachesis Atropos	Respond to of 69126

Much late, implies a bottom also the word correction has similar connotations. Tops and bottoms are a relative measure. Depending on the how you slice your data, S&P has been declining since April and the July run is just an anomaly. If one considers a larger picture the S&P is still at an all time high. If you were wrong about the top what makes you think that you'll be right about the bottom? This dichotomy is troublesome. I am not calling a top, a bottom, a flat period or for more decline. When the bull market enthusiasm returns I will be back in the S&P. Taking profits at any time is a good thing! Some investors have been spending unrealized profits from the previous period. This will take a few months to work its way through the market. There are other contingencies that can influence the market. For example, the communist regime may reestablish in Russia, Bolsheviks would embrace a fall of capitalism--the Russian Bear may be back. On the lighter side, some analysts agree that earnings will be flat over the next few periods. My confidence in the Bull Market has been called into question. When I toss a coin, it lands on its edge and doesn't fall over. I am sure there are others out there that will have similar concerns over the next 4 months. Lachesis