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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: dclapp who wrote (68183)	9/24/1999 1:22:00 PM
From: AurumRabosa	Respond to of 132070

September song Stock market correction an accident waiting to happen It's a long, long way from May to December, and the stock market falls when you reach September. As the autumn weather makes losses from gains, traders may not have time for the waiting game. sung by By Dr. Irwin Kellner, CBS MarketWatch, Last Update: 10:15 AM ET Sep 24, 1999 Kellner's forecast, Commentary Section Exactly one month ago, on Aug 25, the stock market, as measured by the DJIA, closed at a record 11,326, up 23% since the beginning of the year — and a hefty 32% from a year ago. The bulls were looking for 12,000 by 2000; the bears were saying otherwise. Now, one month later and 1,000 points lower, it appears as though the bears may have been onto something. For performance of the Dow and the other major indexes notwithstanding, most stocks have been declining — not just this year, but over the past 52 weeks as well. Call it a "stealth" bear market. According to a recent study by Donaldson, Lufkin & Jenrette, more than 3,700 stocks that trade on the NYSE and the Nasdaq are down by an average of 24% from their 52-week highs alone, not to say their all-time highs. And that was before Thursday's carnage. Since the beginning of this year, the plurality of daily declines over advances on the NYSE has widened to 22,000. This is the widest gap ever — wider than at this time in 1987, when the market was sliding toward its Oct 19 crash. If the Dow 30 had followed the track of the broad market since the start of 1999, it would be trading below 5,000. etc... cbs.marketwatch.com