a 10 year bear waits patiently, page-3

Hi Butch,

You write In all, Tice argues that the rally of the past four years is masking a long-term bear market that began in 2000 and won't end for at least another five years. .


Yes - that's exactly what he says, word for word.

He also says " .... It took the Dow Jones Industrial Average nearly 100 years to put on its first 5,000 points --- and just three to put on the second. ....".

And it appears to have taken just under 1 year to put on another 3,000.

So, 100 years - 5,000 points, then another 3 years for another 5,000, then less than 12 months for a further 3,000 points. I won't presume to know what you think, but to me that's getting close to parabolic, and that is dangerous.

imo

dub