BEAR MARKET/CRASH OR CORRECTION Message Board

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Strategies & Market Trends : BEAR MARKET/CRASH OR CORRECTION

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To: Feraldo who wrote (6)	10/28/1997 8:30:00 PM
From: Serge Collins	Read Replies (1) of 10

Feraldo, I think what were experiencing is nothing more than volitility. It reminds me of the summer of 1996 when the market plunged 10% only to recover it all in a matter of days. That is not a correction. People are either suffering from amnesia or being hypocritical in comparing this fall to 1987. I agree with you that we are about to see a stiff correction, however this wasn't it. We came very close, but as fate would have it, the circuit breakers saved the day just before the bell. Sort of reminds you of a boxer being saved by the bell so he can fight another round. The problem here is that this little volitility didn't do a thing to bring valuations back in line with reality. Speaking of 1987, the market behaved in a very similar fashion to what we are seeing now. If you have access to back issues of the NY Times or WSJ on microfiche, take a look at the market in the weeks leading up to the crash and tell me if there isn't a similarity in the behavior of the market if not the underlying economic fundamentals.

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