History Repeating Itself?

click on chart to enlarge

I stumbled upon this chart while surfing the web and thought I would share it with you. This is a chart of the Dow Jones Industrials between 1929 and 1933. Look at the rally on left side of chart after the 1929 crash. It was a 46% bounce off the low. People were feeling optimistic that the worst was over and good times were ahead. They were obviously wrong. There were nice bear market rallies along the way but a brutal bear market took hold over the next two years. Will history repeat itself? Unfortunately, I believe so.-Lou