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I don't know if we are entering a "new" bear market or just a normal bulls
correction.
What I have learned through my readings and experience is that the market
discounts the future and when everything looks the best and couldn't be
better...
Good trading,
Howard
>From: BobsKC <bobskc@xxxxxxxxxxxx>
>To: "Terry S. Smith" <tesla@xxxxxxx>, <realtraders@xxxxxxxxxxxx>
>Subject: Re: where will the selling end?
>Date: Sun, 17 Oct 1999 14:40:51 -0500
>
>Tell me this.. why would you possibly suspect we have ended a bull market
>right in the middle of the most prosperous times we've had in 45 years?
>Unemployment is near all time lows, inflation is nearly
>non-existant, corporate profits are fantastic, growth is showing little
>sign of letting up and the world is at peace with recently bruised
>economies showing signs of recovery. So, we are going to enter a bear
>market because we took back 3/4 of a point in interest rates that were
>given to help Japan's economy? Or because xyz company didn't meet earnings
>expectations? Rediculous!
>
>I saw the last bear market .. it was in 1982 and we had 22% interest rates,
>huge unemployment, stagnant business growth and a white house that lived in
>never never land with Peter Pan.
>
>Don't let the chart/star/stats/history/ or any of the gann/slam/bam,
>wave/mave/shave watchers upset you. Every one of these 'methods' is right
>half the time and sometimes, several times in a row. (Just like coin
>flipping). Keep your head, use it and remain calm. There are at least as
>many undervalued stocks right now as there are overvalued stocks. A
>10-20% correction is not a bear market, it is a display of good health in a
>long ranging bull market showing no signs for concern. Electing a
>democratic congress and a democratic president would be showing signs for
>concern. (See 1982).
>
>Follow the fundamentals and follow your common sense. October will be
>over soon and everyone will be talking about how well the market has done
>over the recent past instead of the October horror stories. In the mean
>time, traders don't care where it goes for more than an hour or two anyway.
> Position traders should be looking at the values being created by the
>Octoberites.
>
>Anyway, I'm off to throw some bones .. I want to see what tomorrow brings.
> :))
>
>Bob
>
>
>
>
>At 01:57 PM 10/17/99 -0700, Terry S. Smith wrote:
> > &P's may now begin to trend, the last decline should be helpful
> >determining where this most recent decline should end. Allow me to
> >explain. & to what price we might find a bottom. Happy trading.
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