In fact, a hopeful viewpoint that the market bottom is in displays exactly what bear markets bring out in investors – the hope that things will turn around just after the next market dip. This behavior is analogous to investors worrying at the beginning of a bear market, behavior that famously has been shortened into the adage, "bull markets climb a Wall of Worry."
Several times on this page recently I've talked about housing and stock market forecasts that Bob Prechter (and other Elliott Wave International analysts) made several years ago. We've heard from a great many subscribers who were helped by these forecasts. Yet I've also heard from folks who correctly point out that, from the 2002 to the 2007 high, the Dow Jones Industrials virtually doubled. Their basic question is, didn't we miss a big opportunity to be "long" or make the even bigger mistake of being "short"?...
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