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March 24, 2005 Stocks: "Red Alert " Reaffirmed! |
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Summary Roughly a month ago -- February 21st, to be exact -- I issued a "Red Alert" on the stock market. Lots of water over the proverbial dam since then, to wit: An immediate, large sell-off, followed by a "breakout" that wasn't, followed more recently by something that looks to me like a serious, genuine breakdown. Thus, I am taking this opportunity to review what has taken place since 2/21, as well as to reaffirm an outlook that remains at "Red Alert" status. I will also paraphrase a recommendation contained in the 2/21 piece: If you are holding substandard cash reserves to weather the continuation of the secular bear market, do something about it! And I would not tarry, either. http://www.gillespieresearch.com/cgi-bin/s/article/id=504
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Douglas R. Gillespie, Sr. Doug Gillespie oversees his own financial-market and economic consulting firm, Gillespie Research Associates. For a complimentary sample of Dougs material, e-mail him at drgillespiesr@aol.com. Copyright © 2004-2005 Gillespie Research Associates. All rights reserved. Image rendition and html coding Copyright © 2000-2009 SafeHaven.com ADVERTISEMENTS
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