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> In your studies of the 1929 crash, if you had taken out the high
> flyers, would you have a situation similar to today's (I read
> sometime ago in the NY Times where if you take out the high flyers,
> the rest of the market can be considered to be in a bear market)?
I don't have the specifics at hand, but I read a few months ago that
the entire S&P runup in 1999 was caused by roughly 7-8 stocks. Take
out those 7-8 flyers and the S&P was DOWN in 1999.
Gary
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