One Subscriber's Symmetry Theory 09/04/03 01:41 PM EDT
Eerie similarities to February, 2000. S.N. says it is not different this time.
I get so many informative emails from subscribers during each day. Here's one in particular that struck a responsive chord. Subscriber S.N. writes:
In all of the Nasdaq history, it has only once ever sustained a seven-day consecutive advance and that was in February, 2000. Also, the amount of inflows into mutual funds in August was the largest flow since -- yep you guessed it -- February, 2000 again. Bulls say, it is different this time, we are coming out of a massive crash with a long way to go. I say, from my work, it is never different at any time. Cycles repeat, investor psychology repeats and all the old mistakes of the past are unfortunately repeated by the masses and even sometimes the "smart money." You spoke of symmetry in a post. How's this one? September 5 is a Gann 180 weeks from the market top of 2000. This Gann principle worked like a charm at the 90-week mark in December, 2001, marking the top there. Also, September 3rd was the top before the crash in 1929, and August 25th was the top before the 1987 crash! http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=19273428
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