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There has been a 4 year cycle probably since the beginning of the stock market in
the USA. We should be at the end of the bear market and beginning another bull
market this year, probably in the fall. I was already expecting a drop to the Oct
7, '98 and Sept 20, '01 levels. Namely the 1370 area for Nasdaq (but don't quote
me). The only thing which worries me is the excessive bullishness with the
advisors:
http://www.fiendbear.com/marketre.htm
Week ending 05/31/02
Investors Intelligence: 53.0% Bulls, 29.0% bears; prev week: 53.1%, 30.6%
Additionally, there's the specter of the Enron related corporate/government
corruption and accounting scandals. Moreover, now we discover lying involving the
major broker analysts. It seems 2001-2 has not been a good year for our
institutions. All of them have been touched by scandal and none will change.
Because of government corruption, Congress and the Executive Branch will not pass
any substantive laws regarding accounting firms or corporations. Combined, these
scandals may produce a very weak bull market indeed.
BTW, it looks as though Nasdaq will open another 3% lower. LOL Intel has some bad
news:
http://biz.yahoo.com/rf/020607/markets_europe_stocks_4.html
Of course, this says nothing about the close. If you think that's bad, you should
see my Nasdaq McClellan Oscillator and Summation ratio charts. Ouch.
Daniel.
Ian McVicar wrote:
> SHOULD WE close the door and turn off the lights????
>
> What you think ?
>
> Ian
> PS : I am not assciated with this service, just thought its was interesting
>
> LINK : http://www.jasmts.com
>
> In one of Jim Shepherd’s recent newsletters he pointed out that six of the
> largest companies in America have now lost over $1.6 trillion of market
> capitalization in the last 2 years, an amount equal to $5,000 for every man
> woman and child in this country.
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