Re: RE: Re: RE: Re: BLS Daily Report

[Doug Henwood]

Mark Jones wrote:

>Doug Henwood wrote:
>
>
>>  Hmm, well last I checked, which was year-end 1999, the S&P 500 was at
>>  2.9 times its long-term trend price (long-term defined as since
>>  1871). So just going back to the trendline would take the index down
>>  by 2/3, to a Dow-equivalent of 3735. And, as any student of Robert
>>  Shiller knows, trend overshoots on the high end are usually followed
>>  by trend overshoots on the low end, Dow 2000 isn't an unlikely
>>  target. That's why you're calling it LongWave2000, right?
>>
>
>But the other day you wrote that 'the worst is over', no?

Short-term, I meant. I think the great bull market (1982-2000?) is 
basically over, though.

Doug