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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Perspective who wrote (105710)	5/31/2001 7:03:08 PM
From: craig crawford	Read Replies (1) of 436258

Thanks for the chart. The differences that stand out to me is that in 1931 the rally off the lows was a smaller percentage. The Dow didn't rally nearly the 45% the Nasdaq did. This doesn't necessarily mean anything however. The other difference in the charts is that the bounce in 1931 was very quick and brief, and then attempts to surpass the initial high were met with successively lower highs. The rally in the Nasdaq after the initial spike has seen a couple of higher highs and a couple of higher lows as well. This could be significant. Also notice in that in January when the rally failed we rolled over very quickly and headed back down in short order. The market hasn't given up so easily this time. I think that "bears" watching, all you grizzlies out there. Unless the Naz can turn lower and fail here in short order it's probably best to take a wait and see posture. It's one thing to bet against companies like JNPR and BRCD when they are 15-20 points higher just a few days ago, but you don't want to overstay your welcome.

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