Tuesday March 21, 2017
March 23, 2000 NDX
I have certainly come in for criticism with my way too early expectation for a top in the markets. That said, this Thursday will be an exact 17 year cycle anniversary of the 1982-2000 bull market top. Notice the market then was in a huge move up and it turned on a dime that day. How significant was this?
Very Significant as it turns out
NDX Weekly
Now that nay sayers like myself have been proven wrong, the public is back in buy and hold mental mode. The proof is in the rush to ETFs so far this year.
Shorting on the secondary high, then it was September, 2000, was quite profitable. Staying long meant watching the portfolio evaporate. Sure if one had stayed long it came back
but how many do you suppose had that kind of courage if in fact they sold out on the way down?
Now things get interesting.
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