I hope you are right, Voltaire.
I'd like to review the numbers. They don't lie. I think some sense and reason will come out of doing so.
The NAZ went up about 100% last year. Last Wednesday, it closed at 3769. Before that it had last closed below that figure was in early January (3727). During the April 4, 2000, sell-off, the intra-day low was 3649.
The NAZ's record close was on March 10, 2000, at 5048. It is down more or less 25% from its record high.
These figures show one thing. In historical terms, NAZ is still way ahead of the game, if you consider January 1, 1999 as the base-point. The spectacular rise from January 1, 2000, to March 10, 2000, simply COULD NOT be sustained after a year like '99.
The writing on the wall was clear as could be. A drunk monkey could have predicted the present correction.
Party's over. Time to clean up. Take two Alka-Seltzers, and hope the hangover is not too severe. It was nice while it lasted
Good luck to all of you today. |
