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To: QwikSand who wrote (30083)4/4/2000 2:25:00 PM
From: Steve Lee  Respond to of 64865
 
The indices are just baskets of stocks (you should know this). I don't follow them. I follow stocks.

Are you saying that if I followed 100 stocks and called a top in all of them and they all went down next day, it wouldn't count as a prediction cos it was a market metldown.

Of course, there is some truth in your post because of margin calls forcing people to sell stock B when stock A has dropped.

Remember also that there have been stocks such as INTC and MSFT that haven't fallen 30% in the last few days - because they weren't so overvalued and therefore susceptible to big losses in a market meltdown.