Annie
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- Nov 22, 2003
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I noticed some of this last week:
http://fundmasteryblog.wordpress.com/2007/09/06/hemlines-are-going-down/
http://fundmasteryblog.wordpress.com/2007/09/06/hemlines-are-going-down/
Hemlines Are Going Down
Filed under: Investments, Mutual Funds Kurt Brouwer @ 11:08 am
One piece of street lore on Wall Street has to do with hemlines. The theory is that when hemlines go up, starts follow along. But, when they go down, stocks often do too. Right now, it appears the fashion gurus are lengthening skirts and dresses, so does that mean stocks will fall too?
David Gaffen at MarketBeat Blog reports on the latest technical indicator:
hemlines are dropping again, according to the Heard on the Runway blog, with many skirts and dresses extending to the ankles or even the knees.
Thats not good for the markets, as Burton Malkiel explained in A Random Walk Down Wall Street all those years ago, noting that there does seem to be a loose tendency for bull markets to be associated with bare knees, and depressed markets to be associated with bear markets for girl watchers.