Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: Tom Trader who wrote (7491)	10/26/1997 4:05:00 PM
From: Joseph G.	of 94695

Tom, <<To say that the DOW needs to get back to 4000 or whatever level does not recognize that many stocks have corrected sharply. >> You may wish to look at some old charts (for stocks, not S&P) from 1969 - 70, e.g, which was a mild bear market. It is instructive and teaches one the difference between "sharp correction" and a bear market, where these high flier Cos. will correct sharply several times before it's over. One can also argue that a secular bear market is in order. One in which stocks like MRK can get to below 30, IBM can get to below 20, and stocks like DELL to below 10. And over 1/2 of smaller stocks will get to zero, for ever. Recall that since Jan 1991 there was no official "10% correction" yet. Joe

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