To: Magnatizer who wrote (8556 ) 3/20/1999 1:30:00 PM From: umbro Respond to of 99985
How Long Does the Bull Market Last? The following table is excerpted from this week's Barron's article discussing Laslo Birinyi's opinion on the market. Laslo remains bullish. His methods are based primarily on analysis of the actual trading (tick) data. The article had the following anaylsis of market rallies and declines dating back to 1915. Birinyi equates current market conditions to leg up that ran from 1949 to 1961, and resumed again in 1992. The full-text of the article (for wsj subscribers) is at:interactive.wsj.com Begin End Change Days 2/24/15 11/21/16 103.15 636 11/21/16 12/19/17 -40.13 393 12/19/17 11/3/19 81.38 684 11/3/19 8/24/21 -46.58 660 8/24/21 9/3/29 496.51 2,932 9/3/29 11/13/29 -47.87 71 11/13/29 4/17/30 48.00 155 4/17/30 12/16/30 -46.44 243 12/16/30 2/24/31 23.40 70 2/24/31 6/2/31 -37.38 98 6/2/31 7/3/31 27.58 31 7/3/31 10/5/31 -44.30 94 10/5/31 11/9/31 35.05 35 11/9/31 1/5/32 -39.00 57 1/5/32 3/8/32 24.62 63 3/8/32 7/8/32 -53.57 122 7/8/32 9/7/32 93.91 61 9/7/32 2/27/33 -37.25 173 2/27/33 7/18/33 116.65 141 7/18/33 10/19/33 -22.35 93 10/19/33 2/5/34 31.24 109 2/5/34 7/26/34 -22.78 171 7/26/34 3/10/37 127.34 958 3/10/37 3/31/38 -49.10 386 3/31/38 11/9/38 59.76 223 11/9/38 4/11/39 -21.72 153 4/11/39 9/12/39 26.00 154 9/12/39 6/10/40 -28.27 272 6/10/40 11/7/40 23.17 150 11/7/40 4/28/42 -32.54 537 4/28/42 5/29/46 128.69 1,492 5/29/46 6/13/49 -23.95 1,111 6/13/49 12/13/61 354.76 4,566 12/13/61 6/26/62 -27.10 195 6/26/62 2/9/66 85.74 1,324 2/9/66 10/7/66 -25.21 240 10/7/66 12/3/68 32.37 788 12/3/68 5/26/70 -35.94 539 5/26/70 1/11/73 66.63 961 1/11/73 12/6/74 -45.08 694 12/6/74 9/21/76 75.69 655 9/21/76 2/28/78 -26.87 525 2/28/78 4/27/81 37.99 1,154 4/27/81 8/12/82 -24.13 472 8/12/82 8/25/87 250.41 1,839 8/25/87 10/19/87 -36.14 55 10/19/87 7/16/90 72.56 1,001 7/16/90 10/11/90 -21.16 87 10/11/90 3/15/99 321.07 3,077 Number Average Change Average Days Rallies: 25 109.75 930 Declines: 24 -34.79 310