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Following up the earlier post with a look at the earlier part of 1997 does
offer some encouragement. The transgressions below zero% are short lived and
have offered decent buying opportunities. Caveat is of course this has been a
bull market and a sustained trip below zero would indicate something of the
bearish nature. The way the indicator is sliding towards zero is reminiscent
of earlier pre recession economic forecasts of a "soft landing". Will it
richocet back upwards near or below zero into a summer rally? Or will it
continue to make a Titanic dive into chilly water? Cest la vie!
BobR
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