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If you give me a day, I'll find you a historical event to prove any point
you wish for what will happen next. Stats are wonderful things..
*everyone* wins because the same figures will prove a hundred points of
view. I've been at this a long time.. a long time. I can say that the
only stat that I depend on, the one that works most every time, is the
contrarian view. If making money in the markets was so easy as to sub to
this list and do what the vast majority says will happen, everyone would
quit their jobs and become traders. Remember please that I may short a
half dozen stocks in the morning but the nay sayers are getting up to a
level now that clearly indicates we only need a one day blow off to end
this correction. (It's not at all impossible we had the one day blow off
over last week). If that doesn't happen, I'll make money trading but I'm
currently adding to my long term positions on the long side.
Bob
At 08:28 PM 10/17/99 -0500, Clyde Lee wrote:
>I sent the attached comparison of today, 1987, and 1968 based on monthly
>data to my Swingmachine readers but it also seems appropriate for this
>thread.
>
>If the more bearish of the SM projections holds up (as it did in 1987
>and
>1968/9), we will not see an end to the selling until some time early in
>2000.
>
>Maybe no "crash" but just a steady decline. And maybe if we don't pay
>attention then we may be burying some "bones".
>
>Clyde Lee
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