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The stocks in the Dow aren't the same. You are comparing apples and
oranges.
----- Original Message -----
From: "topos8" <topos8@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, June 16, 2003 11:12 AM
Subject: [RT] Barron's cover
> Paul Montgomery often has pointed out that covers of publications
> devoted entirely to business and finance (e.g. Barron's, Business
> Week, the Economist, Fortune ) are much less reliable indicators of
> public opinion that are the covers of popular newsweeklies like Time
> and Newsweek.
>
> As an illustration of this caveat I would cite the cover of Barron's
> for the last August issue of 1982. The cover was a picture of a
> snorting bull and the accompanying article was very bullish on
> stocks. The 1981-1982 bear market low in the Dow at 777 had
> occurred three weeks before the cover came out and the Dow has never
> once sold below the level it traded at when that cover came out, a
> period of 21 years!
>
> Carl
>
>
>
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>
>
>
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>
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