RE: Re: RE: Re: BLS Daily Report

[Mark Jones]

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? 

Mark