flat to slightly down market over the next couple of weeks. I think we get a basing that seems like a double top. Then the breakout will come and a final run lead by a few key groups (like late 98 to early 2000).
There's always the chance that it is a double top but I'm not 'feeling' it.
Looking For A
Started by
Cirrus
, Oct 18 2007 09:56 AM
2 replies to this topic
#2
paulstan
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Posted 18 October 2007 - 10:25 AM
Interesting parallels between today and the market of '98 and '99. John Hussman (hussman.net) points out that our current circumstances have a high correlation (100% of the instances he cited) of a sharp 10% correction. But, as you note, the market in '98 and '99 went on to reach higher levels after each of these corrections. So -- he is suggesting something a bit more dramatic than a flat to slight downward basing action. We should see one way or the other before too long!
#3
Cirrus
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Posted 18 October 2007 - 10:43 AM
Anything could happen. An emerging market mini-crash would be the catalyst most are expecting as far as a catalyst. The very fact that many energy stocks refuse to trade higher here in the face of 85+ oil when they're priced for sub 60 oil tells me the market is looking for trouble in the economy.
