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Politics : Ask Michael Burke
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To: Lucretius who wrote (42216)1/5/1999 12:09:00 AM
From: HG  Read Replies (2) of 132070
 
Worst case scenario ? 40% correction at any height. At the present price of 250, it means a correction to around 140. And I wouldn't even blink. There is a strong support at 140.

Anything below that - and I cut my losses (actually my previous gains), my threshold of pain is at 140. I come out with most of my principle intact and a normal overall increase in my portfolio for 1998 - which is what I would normally have had to start with.

Number of days is irrelevant. I guess you can say longs are conditioned to the volatility now. A $125 dollar drop is excruciating to the sideliners, but the longs have seen the drops so often. Its like living in sarajevo - everybody thinks it must be hell, but people living there develop sensory filters and other defence mechanisms.
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