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If you overlay the chart of the DOW from October, 1929 to March, 1930, it looks almost exactly like March 2009 to August 11th, 2009. Both periods were 5 months. Both periods experienced a 50% recovery in the DOW. What do I think well happen next? Answer: The markets will be hammered in September and October. In April 1930 the market started a 24 month bear market that broke the previous low set in October, 1929. Paul Tudor Jones is correct. This is a BEAR MARKET RALLY. How low do we now go? No one has a 100% positive answer but one must look at history. History does not lie.
Aug 15 10:30 am
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All Comments by Ames Tiedeman »Doug Kass Turns Bearish: Zigging When Others Zag [View article]