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Who is to say whether this is a bull or bear market. If losing money
means it is a bear market, there are some people who have spent their
whole lives in a bear market. If it is by definition a given percentage
of gain or loss then some markets are in a bear market and others are
not. If you go sector by sector some are in major bull markets and some
in bear markets. CSCO has lost market value from its high of over $480
Billion dollars. With that kind of money you could buy both INTC and
SUNW at their present stock price and not only own them free and clear,
but have some change left. Everything has its own perspective. In
trading stocks or futures a 50% retracement is just that, not a bear
market in the underlying. Those of you that use fib numbers look at a
retracement of 61% +/- a buying opportunity, not a bear market. The
key is, do you have a tradable market. One with sufficient volatility
to make a living either buying long or selling short. Looking at these
charts the S&P futures can go down to 8800 and still be in an uptrend
and have undergone a normal retracement and the INDU can move down to
6700. A bear market is one where the stocks or futures you are long are
going down and the ones that you are short are going up, and a bull
market is one in which the stocks or futures that you are long are going
up and the ones that you are short are going down. You see, the only
chart that really tells you whether it is a bull or bear market is your
equity chart. Have a good week end. Ira.
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