To: GraniteStateConservative
Whose predicting a stock market crash next year, other than brokers in gold?
201 posted on
08/28/2003 1:10:00 PM PDT by
My2Cents
("I'm the party pooper..." -- Arnold in "Kindergarten Cop.")
To: My2Cents
There are plenty of short term bulls who see a big pullback next year-- like 1987. Is this a secular bear market? There is some evidence. This rally could be a secular bear rally-- fleeting. Many technical analysts don't like the market at all. The rally probably ran out of gas in June and is just sputtering along in a narrow trading range until it capitulates.
To: My2Cents
Oh, and Elliott Wave theorists, too. And people who study valuations.
The economy isn't sweetness and light. Job growth is non-existent and real GDP growth was less than 1.4% (defense spending alone accounted for 1.7% of the 3.1%). In the midst of ruthless cost-cutting, corporate profits FELL by 3.4%-- another bearish sign.
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