VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Timetobuy who wrote (40282)	8/15/2001 4:30:42 PM
From: limtex	Read Replies (1) of 65232

TB - This looks to me earily like the tip of another down leg. We have seen this down day after day stuff twice before, once last Sept- Jan8, 01 and the 2nd time Feb 01 to April 01. This looks like the 3rd time each time the market lost a massive chunk of value. There is annecdotal evidence of another bunch of people giving up and still day after day there is no evidence that business is picking up. There is an almost wall to wall atmosphere of gloom and everyone you meet has been busy selling short. Short selling will soon match buying! We have a veritable army of Day Short Sellers. With all this there is nowonder the NAZ is collapsing albeit slowly. On the same basis as the last two down legs we could see the NAZ lose 40% to 50% of its value and it would still have a high P/E relative to companies whose business is evaporating and many of whom, if things continue into next year, will have difficulty in surviving. No end in sight. Those who predicted it was 1929 are now surely proven right. Best regards, L

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