Looks like we’re not in Kansas any more, Dorothy. I mentioned on our message boards at Capitalstool.com that the old saying that markets go down faster than they go up is mostly true in bull markets. They spend more time going up in bull markets, but when they go down, they go down fast. Lee Wheeler called it, “up the escalator, down the elevator.” But as Joe Granville taught back in the 70s, bear markets are the mirror image of bull markets. Everything works the opposite of how bull markets work. In bear markets they go up faster than they go down, but spend more time going down. Remember 2000-2002?
Today they went up a lot faster than they went down.
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