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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (36334)	1/13/1999 8:39:00 AM
From: Tommaso	Respond to of 94695

I won't be happy until we get at least one 1,000-point down day. A rational level (i e. P/Es of 15) would imply a 55% decline, and an entirely possible P/E level of 10 would imply 65% or more. To get back to the P/Es of 1982 and other lows would suggest more than an 80% decline. Such things are just as easily within the realm of possibility as the recent highs of AMZN and YHOO were, in the other direction. But I won't be putting money on anything lower than a 50% decline.