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RTs:
Some disagreement may be arising over time frame. This is also the trouble
I have with sentiment surveys. I suspect a vicious bear will come about in
the long term, but more distribution and psychological changes are
necessary for the top to be in place. I will be interested to watch my
INDU/TRAN chart when the S&P and Dow make their final highs. It is still
divergent and the A/D is declining, although this does NOT indicate an
immediate decline in the index.
I have a very simple view of these things, but I would be very surprised if
we do NOT get new highs, even though I believe the market and economy are
very ill. To sell short on a position basis, I will have to see the action
confirm.
PG
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