Ike,
In a previous post I mentioned that I analized 150+ charts over the last week. I've pretty well formed my opinion that this "Bear" market is just beginning.
From those charts here is some FUN? stuff I calculated.
of those companies 4.6Trillion dollars in market cap evaporated. Assuming that every man, women, and child in the U.S. was a shareholder of only those 150 companies... that would evaporate 18,400.00 of net worth for every person. Actually I believe the number of stock owners in the U.S. was about 37% of total population, so that expands to a linear distribution of <49,729> reduction. Looking at companies like XRX, PSIX, BRCD, IBM, VRTS,AMZN... and on and on, Someone holds, or has held those shares, at the pinnacle of each chart top. I don't believe that that contraction has begun to impact earnings of Q1 2001.
You make comment that numbers are read wrong... I agree, but signs of the classic Bear Market are selling into GOOD information.
You've probably read "Reminissance of a Stock Operator", but if not; even today I believe its still timely. Great Quick Fun Read.
John |
