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To: MythMan who wrote (389197)	6/23/2009 2:04:10 PM
From: Lucretius	Read Replies (1) \| Respond to of 436258

bberg says we gonna crash. they know stuff U.S. Stocks May Drop 10% in ‘Correction’: Technical Analysis Share \| Email \| Print \| A A A By Rita Nazareth June 23 (Bloomberg) -- The Standard & Poor’s 500 Index may extend its drop from near a seven-month high to 10 percent because of the severity of the declines in the past week, according to Bank of America Corp. Stocks suffered “90 percent down days,” when 90 percent of stocks fall and 90 percent of volume comes from retreating shares, on June 15 and June 22, said Mary Ann Bartels, a Bank of America analyst who studies charts to make forecasts. Because there wasn’t a “90 percent up day” in between, a stock market correction is probable, she said. “This is likely to be the pause that refreshes and allows the market to post new recovery highs in the coming months,” Bartels, ranked second among analysts who study price charts in Institutional Investor magazine’s most recent survey, said in an interview. Bartels said the S&P 500 correction will be limited to 10 percent from the June 19 close because of how strong the market’s rally was from the 12-year low reached in March. Equities experienced seven “90 percent up days,” with average volume of 7.3 billion, compared with an average 6 billion shares changing hands on the five “90 percent down days” in the period, according to Bartels. To contact the reporter on this story: Rita Nazareth in New York at rnazareth@bloomberg.net.