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To: Just_Observing who wrote (78569)3/11/2001 9:01:44 PM
From: Ilaine  Read Replies (2) | Respond to of 436258
 
But most of the money that rolled out of the Nasdaq into the NYSE or into bonds or into money markets or into gold. People are just looking at one little thing and missing the big picture. It's like all the blind man feeling the elephant and trying to decide what it looks like based on the little bit they feel - the guy who has the tail thinks it looks like a rope, the guy who feels the side thinks it looks like a wall.



To: Just_Observing who wrote (78569)3/11/2001 11:08:52 PM
From: GraceZ  Respond to of 436258
 
The money was never there in the first place. Think about how market caps are figured out, by the last sale. The total market cap was determined by the inflated share prices from a lot of issues (but not all) with a small percentage of shares in the float. Money flow was negative long before the NAZ peaked in price last year.

The DOW now has the opposite occurring, very positive money flow with little price appreciation. If and when the DOW implodes that is where you are going to see real capital destruction.