Tuesday, July 17, 2007 3:40:50 PM
Avan:
"I beleive this bull is short lived...I expect a 'a gap up' followed by an ugly break and prolonged period of pain."
I presume you meant "short lived" from this point forward. This bull market is the longest since 1958 (and possibly in history) without a (mild) 10% correction.
Clearly, no market can sustain this momentum for a lot longer. It is already wayyyyyy on borrowed time. Most bull markets (whether Macro or an individual stock) do exactly what you say. The last of the hold-out buyers pile in because they can't stand it anymore. That is coupled with shorts who capitulate by buying to cover. The result is a blow off top. But like all blow off tops, you then get a correction.
As you can see (below), this 4 1/2 year bull market appears to be entering a blow off phase. If so, it will (at the minimum) end the streak of no -10% correction. And, of course, it could be the beginning of my long-awaited MAJOR correction.
Len
"I beleive this bull is short lived...I expect a 'a gap up' followed by an ugly break and prolonged period of pain."
I presume you meant "short lived" from this point forward. This bull market is the longest since 1958 (and possibly in history) without a (mild) 10% correction.
Clearly, no market can sustain this momentum for a lot longer. It is already wayyyyyy on borrowed time. Most bull markets (whether Macro or an individual stock) do exactly what you say. The last of the hold-out buyers pile in because they can't stand it anymore. That is coupled with shorts who capitulate by buying to cover. The result is a blow off top. But like all blow off tops, you then get a correction.
As you can see (below), this 4 1/2 year bull market appears to be entering a blow off phase. If so, it will (at the minimum) end the streak of no -10% correction. And, of course, it could be the beginning of my long-awaited MAJOR correction.
Len
Warren Buffet: 5 minutes and 17 seconds of pure, unadulterated, bulletproof, flawless logic.
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