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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: John Madarasz who wrote (52407)	5/27/2000 8:40:00 PM
From: Les H	Read Replies (3) of 99985

The odd thing about each of those Nasdaq bear markets. They entirely wiped out the preceding year's gains from the low and then some in each case. You can retrieve the monthly open/high/low/close for the Nasdaq: chart.yahoo.com The Nasdaq today is still about 1000 points or about 40 percent above the 52-week low at 2230. In 1987, the Nasdaq fell to 306. The 52-week low prior to the decline from August to October was 351. In 1998, the Nasdaq fell to 1475 by September and the 52-week low prior to the decline was 1560. Perhaps, my math is wrong and I'm also not saying that this would happen in this current time frame. It's clear that when only 10 percent of the margin debt has been reduced there's still a lot of air in those accounts as opposed to equity.

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