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I know charts are important and we must pay attention to them to get clues
from the past but to even think that the current scenario is similar to the
"crash" years is to completely ignore all fundamentals. The crash of the
'30's was due to equities being bought for 10 cents on the dollar and the
wild speculation which that allowed. We are currently in a rising economy
and while it's true that the economy is being and will continue to be
stifled by rising rates, no one argues that there will be over-all
corporate gains in 2005. I covered all my shorts near the close Friday and
began adding positions today. I love health care, bio techs, home builders
and oil drillers/suppliers. The time to buy is when people are "jumping
out of the buildings" ...
Bob
At 03:48 PM 4/18/2005 -0700, you wrote:
>(chart http://kevinbantz.com/v-web/b2/images/indu_low.gif)
>
>Here I try to show that present 'action" resembles 1990's, and hence
>expect
>dow 9600ish...
>
>But my gut tells me to expect the worst, and the worst is 1937's action,
>
>When the Dow's reaction to the reaction of the 1929 "crash" produced a
>-34% decline.
>
>Kevin Bantz, reminding you to breathe deep....
>http://kevinbantz.com/
>
>On Apr 17, 2005, at 11:38 AM, Ron Jaenisch wrote:
>
> > Kevin
> > English please
> > what are you seeing here?
> >
> > Regards
> > Ron Jaenisch
>
>
>
>
>Yahoo! Groups Links
>
>
>
>
>
>
>http://stockcharts.com/charts/historical/djia1900.html
>
>Ron,
>
>What I was pointing out was the reaction to the 1929 crash
>or the bounce, after the bounce there was a correction to it
>starting in March 1937 which produced a 34% decline. If last year's low
>is taken out, then I expect to see SPX near 800.
>
>Bantz
>
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