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Strategies & Market Trends : LastShadow's Position Trading
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To: Susan Saline who wrote (35476)5/23/2000 8:08:00 PM
From: tom pope  Read Replies (2) of 43080
 
Not a response to your query, Sue, just the observation that the most remarkable aspect of today's trading was that around 9:45 this morning the ND futures were at 3325. They closed at 3012. That's over 300 points, close enough to 10% for government work anyway. They're currently at 2295.

10% used to be the benchmark for a correction. Now we do it in one trading day.

I'd say we were oversold, except that Prechter - the then reigning guru - said we were oversold the Friday before the October 1987 mess.

There may be depths below depths.
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