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I'm not making any predictions here, just observing patterns. Of course, the
first rule of patterns is: When enough people recognize a pattern it
invariably morphs.
At first blush it sorta looks like the COMPAQ is toying with the possibility
of bottoming around the levels of the 1997 high. However, if we take a look
at the pattern of the declines in this bear market, we can discern the
potential for a low in the vicinity of the 1998 low.
By my reckoning, this is just the third year of a nominal 4 year cycle. So,
it may be premature to get too excited about a new bull market anticipating
the great Bush Recovery just around the corner.
Stan
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