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Technology Stocks : CMGI What is the latest news on this stock?
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To: Stephen who wrote (1737)8/31/1998 6:30:00 PM
From: Andeveron   of 19700
 
>> Strange, I'm trying to remember how the last sell-offs felt and relate this one to it ... but can't. <<

When the market collapsed in 1987, stock brokers went on unemployment, arbitrage traders became ice cream vendors and retail investors stayed away for a couple of years. I was a teenager then but my cousin, who was a securities trader at Smith Barney, lost his job and went on unemployment for a year. He got his job back when the stock market started going on a bull run in the early 90s. It wasn't pretty.

I see the current downtrend continuing. I have no platforms that I see the Dow or S&P floating off of but DOW 7000 and S&P 800 sound about right. The NASD may well go down to 1300. Too much panic and realization setting in right now. Outside of a FED intervention (manipulation), it's a funeral for the Bull market.

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