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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (68509)10/1/1999 5:34:00 PM
From: benwood  Read Replies (2) of 132070
 
If you want to see how the crash went in '87, take a look at a chart from 8/26 or 8/27 (the peak of 2722) to 10/5, about 6 weeks' time. The DOW only dropped to 2640, or down less about 3%. Then it cracked on Oct 6th and begin it's steep decline. There were two sucker rallies during those 6 weeks, btw. So, in that one instance, it started out rather slow but then ended with a bang.

From watching the daily activity, I get this feeling that a lot of big money players are mingling near the exit trying to look inconspicuous, with a bunch of nervous buy-on-the-dip investors re-entering the market, perhaps clinging that that philosophy for the last time in their investment lives.

I'd probably worry about this stuff more, except I'm one of those nuts with a positive savings rate.
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