Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Discuss Year 2000 Issues -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (6140)	6/29/1999 7:55:00 PM
From: Jim Stanfield	Read Replies (1) \| Respond to of 9818

Hello Ron, Sorry it took so long to get back to you. I calculated that 0.75% from two other statistics: The market cap of all outstanding stocks at the time was a little over $3 trillion and the value of the shares that traded that day was worth about $25 billion. I believe I got the $25B from "A random Walk Down Wall Street." (I'm going from memory here.) I did not want to imply from the previous post that I thought that the 11% intending to sell would trigger a crash. The 11% intending to sell probably do not hold 11% of the stock. Also they will not sell on the same day. It is an interesting statistic though. It shows how precarious the market can be with an imbalance of sellers to buyers. I think the smart money will sell over the summer giving us a long slow descent into panic selling in September. The first couple of declines will be met with buying by the buy-the-dippers. This winter into next year will see the real effects of Y2K take over. Being so overvalued, the market has a long way to fall. By the way, Ron, I have enjoyed your well reasoned posts on this and also the GPM threads. Jim (between a 6 & a 7)