The same rule applies when stocks are making lower tops for a number of years in a bear market.
该规则同样适用于当股票处于熊市时，多年顶部下移的情形。
Especially when they start, as these do, from a depressed level in a bear market and have the good luck to catch a huge market rally.
尤其它们是始于令人沮丧的熊市，又碰巧抓住了市场的一次大反抽。
On average, during the first year following the low point in a bear market, the stock market climbs 44 percent, according to the Leuthold Group.
根据基金管理公司卢佛集团(Leuthold Group)的估计，一般来讲，在第一年的熊市最低点之后，股票市场上涨了44%，而在第二年，股票市场平均上涨60%。
Certain other sectors, such as oil and biotech stocks, have been in a bear market for months, punished by low energy prices and regulatory concerns, respectively.
还有某些特定的行业股，例如石油和生物科技股，已经深陷熊市数月，主要归咎于能源价格的低迷以及监管因素。
This is fairly reliable but, as Bear Stearns showed, in a market meltdown it can dry up without central-bank support.
这是相当可靠的，但正如贝尔斯登所表明的那样，在市场崩溃时，没有央行的支持就会耗尽。
I'm not predicting the market will crash this week and I don't even completely discount a very strong bear-market rally, given that the market has lost 45% from its high in 2007.
我不是在预测市场会在本周大幅下跌，我甚至并不完全否定可能出现的一波很强的熊市反弹，因为市场已经从2007年的最高点下跌了45%。
Indeed, the equity bear market of 2000-03 did notresult in a banking crisis, as it might have done 30 years ago, when derivativeswere still rare.
事实上，2000[font=宋体]到2003[font=宋体]年股票市场的熊市并没有引来一场银行危机。 而如果在衍生品并不多见的30[font=宋体]年前，这是必然结果。
Still, despite the risks, there's scarcely a bear in sight in the bullish market of English and European football.
尽管有这些风险，但在英格兰和欧洲足球这个大牛市中极少看见熊的影子。
Meanwhile, Bear Stearns' management did not believe it could open for business on Monday without a transaction that restored market confidence in the firm.
同时，由于没有任何交易可以恢复市场信心，贝尔斯登的管理层也不认为在周一就可以开展交易。
If you consider a bear market a drop in the Dow of 15% or more, there have been 25 bear markets in the past 110 years.
如果你认为熊市是道琼斯指数下跌15%或是更多，那么在过去的110年间已经有25个熊市了。
It is beginning to look as if we are in the middle of another of those great phases, what commentators call a secular, as opposed to a cyclical, bear market.
现在的境况开始让人觉得我们似乎处在又一个重大的历史阶段之中，相对于周期性的熊市，评论家们把这个阶段称为长期性熊市。
We get the bear case on China, so naturally, our next risk management tasks are to figure out whether that's fully priced in and if the market is leading us to a re-acceleration in Chinese growth.
我们对中国的悲观预期已得到印证，因此自然而然，接下来的风险管理任务就是要弄清悲观预期是否已完全反映在股价中，以及股市是否在预示中国经济增长将重现加速。
In fact, at this point in this bear market, I'd say ignore current share prices -- except in the aggregate as an indicator of trends and an eventual turn in the market as a whole.
实际上我想说的是在眼下熊市的这个阶段，不要在意股票价格——这不包括大盘指数，它是市场趋势和整体回暖的风向标。
The current cycle will lead the unwary to ruin, he says, “We are in a long-term bear market that started in 2000.
目前的这个周期将导致不警觉之中的崩溃，他说：“我们是在2000年开始的长期熊市中。”
The current cycle will lead the unwary to ruin, he says, "We are in a long-term bear market that started in 2000."
目前的这个周期将导致不警觉之中的崩溃，他说：“我们是在2000年开始的长期熊市中。”
Bear in mind, the industry tends to measure performance over ten-year periods, and not many people expect a roaring acquisition or IPO market for the rest of 2009, and arguably 2010.
铭记一点，业界衡量业绩往往要看10年的周期，而且不会有许多人期待2009年会有一个令人疯狂的收购和IPO，可以说2010年也不会有。
Since they are tradable instruments, they became bear-market warrants for speculating on deteriorating conditions in a company or country.
因为可以交易，它就变成了可以投机的，一种对一个公司或国家情况恶化的看跌凭单。
Jeff Jacoby, a pro-market commentator writing in the Boston Globe, argued against price-gouging laws on similar grounds: "it isn't going to charge what the market will bear."
杰夫·雅各比是市场万能论者，波士顿环球报撰稿人。出于同样的理由，他反对价格欺诈法：“并非对市场狮子大开口。”
During that time, it would have seemed ridiculous to ask whether investors were in the middle of a long bear market.
投资者是否处在熊市之中？在那段时间内问这个问题会显得相当可笑。
On the positive side, we have all the extremes in pessimism that typically accompany a bear-market bottom — a once-in-a-lifetime buying opportunity.
从乐观的角度来看，市场上已经出现了所有伴随熊市底部出现的极端悲观情绪，因此现在是一个千载难逢的买入机会。
Stock markets may well fall in 2008 from their levels at the end of this year, but they would need to drop 20 per cent from their recent peaks for there to be a full-blown bear market.
2008年，全球股市很可能会低于去年年底的水平，但要想进入全面熊市，它们需要从最近的高点下跌20%。
In the initial stage of a recovery from a bear market, the stocks that have fallen the most tend to be the ones that rebound the strongest.
在熊市复苏的初期阶段，跌得最狠的股票往往也是反弹最强劲的。
"It also has a natural overlap with our commercial concerns, " he says, "bringing the Disney stories, and the Disney 'assets' to bear here in the local market."
“这也和我们的商行有着天然的重叠，”他说，“ 它使迪士尼的商店和它的产品在本地市场开花结果。”
All you have to do, it turns out, is start your picks in the bottom of a bear market but close to a recovery, then ride out the next 10-year bull market, right?
你所要做的就是在熊市的底部，但是市场开始恢复的时候开始你的选股，然后搭上下一个十年牛市快车，对吧？
All you have to do, it turns out, is start your picks in the bottom of a bear market but close to a recovery, then ride out the next 10-year bull market, right?
你所要做的就是在熊市的底部，但是市场开始恢复的时候开始你的选股，然后搭上下一个十年牛市快车，对吧？
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