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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Susan Saline who wrote (20913)	10/5/1999 5:58:00 AM
From: Ron McKinnon	Read Replies (1) of 53068

Kendell, thanks for your thoughts as all here know, I tend not to fish the bottom quite as much as others here of late I have tried some; to no avail in most cases I try, fail, take a small loss, try again it is just not working these days the stats that Sue posted shows just how much the index averages fail to reflect the overall market >>>>The average Nasdaq stock is down a stunning 34.8% from its 52-week high >>>>On Nasdaq, 52.1% of all stocks traded now have lost 30% or more from their highs, and a whopping 70.9% are down at least 20%. yet the NASD is only 4% below its all time high this continues to be a market of stocks, not a stock market there are a limited number of winners and a ton of losers I could list hundreds of well run solid companies that are trading at P/E's in the teens; and many in single digits don't matter, they sit doing nothing or just continue to drip lower yet the red hot mo mo's and many new IPO's trade at 50 or 100 or more times sales with no profits in sight till maybe Y3K more than ever this is a time to be selective many of the "old rules", ie, those rules more than 6 months old, need to be put to pasture I fight every single day to try to trade based on years of knowledge and experience while adapting to the reality of the "new" market ain't easy

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