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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: James Calladine who wrote (87281)	6/27/2002 11:57:18 AM
From: orkrious	Respond to of 99280

good post on RMpro Jeff Matthews Smells Worse Than Teen Spirit 6/27/02 11:53 AM EDT I was around in the fall of 1987. It wasn't as insignificant as it seems today (you can barely see that crash on a long-term chart any more). Every day was one-step-forward and the next was two-steps back. Days like yesterday ("hey, we held!") were followed by days like this ("hey, why is Omnicom down $11???). And the Friday before the crash was awful--we thought the worst was over, and it wasn't. I still have the video tape of George Soros on "Wall Street Week" that Friday night telling Rukyser we weren't going to have a crash. (Of course, he was talking his option book, come to find out.) But today feels more important to me than yesterday: what's happening to CCU and IPG and OMC and the cable stocks today is true crash "get me out" action, the kind we never got yesterday. Makes me feel very premature in thinking the worst is over. If today closes real ugly, then it people get a chance to dwell on it all weekend. And I think they'll start saying "get me out."