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I can't understand why everybody is so bearish. The two main reasons cited
by most experts are rising interest rates and the Y2K uncertainties (and lets
not forget inflation). Well as I see it, interest rates have just dropped
more than 25 basis points; Y2K will probably be a big thud, and Greenspan
will keep inflation in check with pre-announced rate hikes.
Technically, we're not due for a 20% S&P correction. Remember we get a bear
market every 4 years. That would be 1990, 1994(stealth-bear), and 1998.
Next one's due in 2002. Two 20% corrections 12 months apart would be
unprecedented.
I would guess that we have another 1994 zig-zaggy type summer with probably a
test of the lows and as soon as Y2K passes, an explosion torr the upside.
Your thoughts?
Jerry Rehert
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