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Whoa! Hold on there. This is the first significant correction since October of 1998. A 50% retracement of the move since then is in the high 2200s. I would say some just missed the opportunity to short. Nothing says crash. NOTHING. I do think the NASDAQ has a load of stocks that are trading too high but they were really really high in March. Some of them will continue to correct after the Dow and S&P are moving up again. Check the monthly chart out. Doesn't that look reasonable? <FONT face=Arial color=#0000ff size=2> <FONT face=Arial color=#0000ff size=2>Jimmy <FONT face=Tahoma size=2>-----Original Message-----From: Prosper [mailto:brente@xxxxxxxxxxxx]Sent: Thursday, November 30, 2000 11:55 AMTo: Real TradersSubject: [RT] The economy and James's commentsAs I write this the market is down 200. Unless we get a high higher than theMarch highs I will say that we needn't agrue about the condition of theeconomy, it is weaker than it was. Today the NAS lost 1/2 of it's value atthe high. That is a crash in my book. Will the market continue to crash 1929style? I don't know but I'd be very cautious. One rule I go by is that if Ihave lost about 1/2 of my profits, get out. James may be right, or not buthe has the right to say it. The party may be near an end for whateverreasons. After a crash they will always tell you why it happened, but neverbefore hand.ProsperTo unsubscribe from this group, send an email to:realtraders-unsubscribe@xxxxxxxxxxx eGroups Sponsor To unsubscribe from this group, send an email to: realtraders-unsubscribe@xxxxxxxxxxx
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