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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (88689)1/20/2001 5:06:45 PM
From: Tommaso  Read Replies (2) of 132070
 
I think the whole NASDAQ is quite comparable to the Dow of 1929-1932. I cannot believe--or rather, I can believe, after I think about it--the rapid shifts in sentiment among some who were intensely skeptical when the NAZ was at 5000. The feeling is that anything that is down 50% must be a wonderful bargain because if it goes back up 25% then you are up 50%.

There seems to be a whole new generation of speculators who can't wait to go broke the way the 25% who got in near the top have done.

Which is not say that the NAZ could not get back up to 3750, and that's why I am not shorting QQQ. But you had better believe that if it does I will.
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