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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Lost to Voodoo who wrote (3000)12/23/2000 4:17:58 PM
From: John Pitera  Read Replies (2) of 33421
 
That's probably Chuck Carpino, and there have been lots of
tech names that have gone down significantly since the 2500
area did not hold.

reviewing my stable of 50-100 well known tech charts it did seem that when issues got below 50% of their ATH's

this has been a year when the CMGI's, VERT, YHOO, AMZN,
ICGE, CMRC, ad infinitum, have gone down 80, 90 and
95%. There were many bubble stocks, So you are right in
one sense that like the nifty 50 in 1972-74, they were so
richly valued that when they start going down, and they
are down 50% that's no reason not to go down much more.

John
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