I think we've already had panic, many times over. Represented by numerous down 300, down 250, monthlong 20% declines with no meaningful up days, wild swings, dumping 1500 Dow points in two weeks, 9/11, war fears, July 4 fears, this holiday fears, that holiday fears, code red alerts, Shrub talks-Makret dives, Greenspan talks-Market dives, 3% moves followed by 3% moves the next day followed by 4% moves the next day followed by 5% moves.....all down. Ever increasing record short interest. SI traders 75% short, 25% long it seems. Disappearance of anything but chart traders.
Companies the quality of EDS at 10 year plus lows. No panic there? No panic in the 60% one day loss?
INTC under 15, AMAT under 12, KLIC in the 3's, CSCO under 12, MSFT hanging on still but going nowhere
No Panic? Nas 100 Stocks: 16 under $5, 20 from $5 to $10, 13 from $10 to $15, 23 from $15 to $25. Total 72 under $25. Remaining 28 "pricey" stocks are mostly biotech and consumer retail oriented.
80%+ from highs? No panic yet? Does panic come in at 90%? |
