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Article: Why the Bull Market's Still Alive
- Article from:
- Chicago Sun-Times
- Article date:
- August 24, 1993
- Author:
CopyrightCopyright 1993 Chicago Sun-Times. (Hide copyright information)
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Depending on who you ask, the stock market's run to new highs is
phony, overdone, unwarranted or unjustified.
Or all of the above.
Is that the way it's supposed to feel at the end of a bull
market?
Of course not. We should be all caught up in the euphoria,
feeling great, not realizing that over-optimism usually is what slays
bull markets.
It's intriguing that people are again obsessed with the
question, almost six years to the day that the great bull market of
the 1980s peaked. Comparing that market to this one is very
instructive.
The Dow Jones industrial average - at 3,605.98 Monday it was
only slightly off the record 3,612.13 set last Thursday - is 32
percent above its Aug. 25, ...