Bears Locate a Template for a Crash
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"History repeats itself, first as tragedy, second as farce."
-- Karl Marx
In order to understand the possible future course of equity prices, it is helpful to call upon history.
Today's opening missive asks two questions: Are the conditions underlying the strong market advance over the last year similar to any other time in history? If there is a historical precedent to today's market conditions and prices, what could this portend for 2007? ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,464.40 | 1,110.63 | 2,176.05 | 32.79 |
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