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I'm attaching a semi-log chart of the DJIA 1917-1934 with all of the significant
retracements marked as percentages. It clearly shows that corrections get
smaller as the mania progresses and a heck of a lot bigger
when the mania has run its course. I have a similar chart for 1970-present,
which shows the same pattern of decreasing retracements.
Earl
>-----Original Message-----
>From: Dennis Conn <dconn@xxxxxxxxx>
>To: carisse@xxxxxxxxxxx <carisse@xxxxxxxxxxx>; RealTraders Discussion Group
><realtraders@xxxxxxxxxxxxxx>
>Date: Friday, June 12, 1998 2:30 PM
>Subject: Re: MKT - The "Big Picture"
>
>
>Unless I go to my deathbed having been proved wrong, ALL markets suffer
>corrections, and I'm inclined to think that the bigger the run-up, the more
>devastating the collapse, whether sudden or prolonged.
Attachment Converted: "c:\eudora\attach\DJ17TO32.gif"
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