I have long been a bear but the stock market itself is not forecasting the kind of calamity Paulson and others suggest.
The dow is sitting at 91% of its 200 DMA. So far that is pretty mild for a bear market.
Prior to the great depression, the Dow sank to around 73% of its 200 DMA.
It was the same story in 1971.
Another Question
Started by
James Quillian
, Sep 28 2008 10:39 AM
1 reply to this topic
#1
James Quillian
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#2
HoseB
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Posted 28 September 2008 - 11:34 AM
I have long been a bear but the stock market itself is not forecasting the kind of calamity Paulson and others suggest.
The dow is sitting at 91% of its 200 DMA. So far that is pretty mild for a bear market.
Prior to the great depression, the Dow sank to around 73% of its 200 DMA.
It was the same story in 1971.
In prior bear markets, neither (a) The Powers intervened in the markets so heavily, nor (
there was great expectation and complacency regarding the perceived crisis like there is now. Lots of complacency... Sheeple feel confident, "Gummint will do somthing to fix this"...
40,000 headmen couldn't make me change my mind....
