Word: beared
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...bring your dog or cat. Harvard doesn't allow pets, so you will have to leave Fido or Fluffy at home. Be strong. Improvise. You could try to content yourself with the 300,000 too-tame gray squirrels in the Yard. Or you could just bring your loving teddy bear instead...
...this: the NASDAQ's scintillating 19% gain Memorial Day week came on modest volume, and advancing stocks were roughly even with those falling--a tepid showing that suggests this rally could fade like a suntan. Don't be fooled by the sharp gain. Since 1900, there have been 31 bear markets, and in 17 of them there was at least one suckers' rally greater than 10% on the Dow, according to Ned Davis Research. All but one had at least one 5% bounce. The typical bear market had five 5%-plus rallies followed by new lows...
...really slowing and Fed Chairman Alan Greenspan stops raising interest rates, the bull market may be coming back to life. But it's way too early to conclude there is a meaningful slowdown. Greenspan will want months of data before he's convinced. We've only had weeks. And bear markets are tricky. Rallies are typical. They prove nothing. Hence my concern...
...time.com/personal for more on bear markets. E-mail Dan at kadlec@time.com See him Tuesdays on CNNfn...
...self-determining. They are the result of ever renegotiated agreement with society. Because they are so potent, their paths may undergo wild oscillations, but I think the trend will be toward the dynamic middle: much slower than the optimists expect, much faster than the pessimists think humanity can bear...