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Glad
he's still skeptical......and a good reason to be:
Yield
curve steepness near record levels....long rates way, way out-of-kilter for
these conditions.
<SPAN
class=600575103-13122001>
Last
time this occurred: 1929
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class=600575103-13122001>
<BLOCKQUOTE
style="BORDER-LEFT: #0000ff 2px solid; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<FONT face="Times New Roman"
size=2>-----Original Message-----From: profitok
[mailto:profitok@xxxxxxxxxxxxx]Sent: Wednesday, December 12, 2001
9:28 PMTo: realtraders@xxxxxxxxxxxxxxxSubject: [RT] part
of the WALKER marhet letter
Since this bear market started back in spring
of 2000, themarket has had several strong bear market rallies...but
thisrally is by far the most impressive. It has regained themost
ground, and it has lasted far longer than the previousbounces. The
two prior major bounces in this bear marketlasted 33 and 36 days. We are
already more than 50 days intothe current
rally. (For an interesting look at how
this Nasdaq bear market compares to the 1929
Crash and previous Nasdaq bear markets, take
a look at our charts at: <A
href="http://www.lowrisk.com/nasdaq-1929.htm";><FONT
size=3>http://www.lowrisk.com/nasdaq-1929.htm
)The consistency of this rally has also been impressive.Until
the last few days, the Nasdaq has not had threeconsecutive down days in
quite a while...since late October.In addition to the very solid
performance in the market asof late, we are now in a period of the year
that ishistorically very bullish. Most of the time the stock
marketrises in December.Nevertheless, we are still very wary about
this market. Infact, I actually think that the market put in a high of
someimportance last Wednesday and Thursday (December 5th
and6th).To
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