this is quite something, and i JOIN the ONE person in 100 that raised his hand approving "the bull mania is NOT over, that it NEVER ended"
<<Question. I need a show of hands. How many of you believe we are in a bull market? How many of you believe we are in a cyclical bull market within a secular bear market? How many of you believe the correct answer is neither - that we are STILL immersed in the greatest stock market mania of all time?
[ED NOTE: THE MAJORITY OF THE AUDIENCE "VOTED" FOR A BULL MARKET,
AND ALMOST THE REMAINDER OF THE AUDIENCE VOTED FOR THE CYCLICAL BULL WITHIN THE SECULAR BEAR.
ONLY ONE PERSON IN THE AUDIENCE OF PERHAPS 100 VOTED FOR A MANIA STILL IN PROGRESS.]
If you're in the bull market group, you are certainly not looking for the Dow to trade below the October 2002 lows. If you're in the secular bear group, you're not completely sure. Like the period from 1966 to 1982, you might think we have already suffered the equivalent of the 1974 low and stocks will simply remain in a wide trading range until the next secular bull market arrives.
However, if you believe we're still in a mania, then you're dead certain that the answer is that the Dow will eventually take out the October 2002 lows.>>
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