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Since this bear market started back in spring of
2000, themarket has had several strong bear market rallies...but
thisrally is by far the most impressive. It has regained themost ground,
and it has lasted far longer than the previousbounces. The two prior
major bounces in this bear marketlasted 33 and 36 days. We are already more
than 50 days intothe current rally.
(For an interesting look at how this Nasdaq
bear market compares to the 1929 Crash and
previous Nasdaq bear markets, take a look at
our charts at: <A
href="http://www.lowrisk.com/nasdaq-1929.htm";><FONT
size=3>http://www.lowrisk.com/nasdaq-1929.htm
)The consistency of this rally has also been impressive.Until
the last few days, the Nasdaq has not had threeconsecutive down days in
quite a while...since late October.In addition to the very solid
performance in the market asof late, we are now in a period of the year that
ishistorically very bullish. Most of the time the stock marketrises in
December.Nevertheless, we are still very wary about this market.
Infact, I actually think that the market put in a high of someimportance
last Wednesday and Thursday (December 5th
and6th).
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