Most famous anniversary in stock mkt history

[Baker]

October 29, 1929 72 yrs ago today was the beginning of the Great Crash of 29, what's interesting is to overlay that chart with the current nas.

from www.zealllc.com.

Speaking of the nas, we're at 1699 and I think we're headed back down. Of course, as always I could be wrong.

[This message has been edited by Baker (edited 10-29-2001).]

 

[Baker]

Scaling back in longs. Feds have been furiously pumping money back in since 911. Could the bear market be over so "quickly"? Seems possible.

 

[selkirk]

Baker good news is being greeted with higher prices and bad news is not having the same effect. I am bullish, worry going forward is some stocks still seem rich valued, Cisco came in with 4cents instead of 2 cents and the stock is off to the races. even heard one analyst on TV describe the stock as a good defensive stock in this environment. Cisco may be a good company but it trades at over 100X earnings....

still some US stocks show good value.
thanks
selkirk

 

[Baker]

Hi Selkirk, in spite of my last post I'm still not sure how bullish I am, but I'm gonna get at least a couple toes back in the water. Yesterday we broke above a downtrend line many technicians view as significant when we got above 1850. Now if we retrace some are we just going back a bit from overbought levels or are we now at the top of a bear mkt rally ready to plunge back to retest lows? So it's still pretty muddy picture to me.

CSCO PE at 100? That's the kind of thing that makes me question how much higher we can go in the near/intermediate term.