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Strategies & Market Trends : The New Economy and its Winners

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To: Bill Harmond who wrote (174)	5/15/2000 10:49:00 PM
From: Wizard	Read Replies (1) of 57684

So the NASDAQ had its worst drop ever (-37%) but it happened so quick, its hard to accept it may be over. I have been thinking we didn't bottom until sometime in June because the average correction has lasted 80-120 days if you look at all the NASDAQ corrections of the '90's. The DOW went down 41% in 1987 - even if the NASDAQ gives up something similar (what I would consider a worst case scenario -40%ish), the risk/reward from here looks pretty good. Since the leading growth stocks usually bottom before the market does - its hard to believe that the leaders are not very close to their eventual lows right now, assuming they haven't bottomed already. For this reason, I covered a protective short (against my long) today in ARBA. I just don't know if we are going to go back soaring again as we still sit in front of the seasonally slow summertime for internet usage. If we get a huge up-volume day I will be more convinced. I am curious what your general strategy is with regard to margin and when you use it?

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