Replies to post #113437 on Zeev's Turnips Patch-No Politics (ZEEV)

[mlsoft]

"Bear markets do create a generation of people that never again go into the market."
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porter...

I agree that is normally the case and I expect it to eventually happen this time also, but to date there are many many folks who have never bailed out to begin with - statistics show that stock ownership is still near all time highs. There has been no sign of real capitulation at any time in this bear because the Fed stepped in to bail the market out each time a true meltdown has threatened to develop. Instead of fear and loathing, the only real fear that has be exhibited to date is fear of missing the bottom.

The bear is alive and will yet do much damage before it finally ends. What we have now is an artificial rally off of an artificial bottom - not a bull market.

mlsoft

[SI_Shack]

Again porter, there is no requirement of a severe decline after an ABC if that ABC is just the first part of a march larger correction.

In any event your wave '2' (my wave 'B') counts as a wedge/triangle in tech and the SPX, triangles never apppear in the '2' position. They are 'B's, 4's, and X's. Do you realize with your count that you are calling the bear market complete and now we head to new highs? No way I buy that at this point.

But either way, this move has more to go.