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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.88

-0.3%

Jan 30 4:00 PM EST

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To: Tiley who wrote (17704)	8/31/1998 6:47:00 PM
From: Clint E.	Read Replies (2) of 70309

Hi Manish. In Oct. 87, I heard about the crash on NPR after it had happened. Today, I watched the crash of 98 in real-time. Nobody expected such a quick drop, not even the bears. We are now close to last Oct levels. The 300-point drop in DOW during the last hour looked like a massive shakeout. I cannot imagine going much lower. Who could be selling anymore? Most stocks are near their 52-wk lows. On the other hand, who has the capital or desire to buy? Earlier, I was on the phone with a friend from FL. who has lost ~$200K in stocks this year. He is not on margin so at least he doesn't have to worry about margin call. I truly feel sorry for him and many who got caught up in this selloff. Clint

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