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11,568 posts
msg #77385
Ignore johnpaulca
8/8/2009 4:02:19 PM

Source: Amateur Investors

Finally hear are a few things to keep in mind with this latest rally as talked about by Bob Farrell who was the chief market strategist for Merrill Lynch from 1967-1992.

1) Markets tend to return to the mean over time.

2) Excesses in one direction will lead to an opposite excess in the other direction.

3) There are no new eras excesses are never permanent.

4) Exponential rapidly rising or falling markets usually go further than you think, but they do not correct by going sideways.

5) The public buys the most at the top and the least at the bottom.

6) Fear and greed are stronger than long-term resolve.

7) Markets are strongest when they are broad and weakest when they narrow to a handful of blue chip names.

8) Bear markets have three stages sharp down reflexive rebound then a drawn-out fundamental downtrend.

9) When all the experts and forecasts agree something else is going to happen.

10) Bull markets are more fun than bear markets.

Of all of these I believe #8 is something we all need to be aware of in the longer term.

198 posts
msg #77388
Ignore tomm1111
8/8/2009 8:39:43 PM

Nice list JP. I especially like 5, 6, 8, and 9. Oh wait...make that all of them.

834 posts
msg #77471
Ignore marine2
8/12/2009 1:40:05 AM

The moral of the story is, buy low sell high

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