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It appears you haven't been there yet. I was on the trading floor in the 70s
when the DOW went down to around 500 off of a 1000 high and there was a real
fear of it going to zero. At 10,400 I don't think that same fear exists. As
for the NASDAQ, you leverage and that is what you get. Zero isn't in the cards
here either. what happens is when all the panic is over, and those who were
smart enough to not get caught up in bottom fishing, those with bucks, move in
and buy because there are no more sellers at these prices. The other thing is
that as the gurus keep dropping the estimated earnings per share, they will get
low enough that the companies will start to beat them. At that time the
careful ones will start to put their toes back in the water. It is no great
mystery. It is patience and a good system that will pay off for you. There
are always 2 trade, one up and one down. So don't have an opinion, trade what
the charts tell you. Ira.
BobsKC wrote:
> If we get to the point that the last optimist cashes in his chips, we can
> all find new professions because you can't make money in what we do without
> liquidity and optimists. The fact is that the NAS is down 65% or so with
> some components down 80 and 90%. To suggest that the NAS has a long way to
> go, is to suggest that zero is not an impossibility. At the rate it has
> been falling, zero would be reached within 8 months or so. (Just a glance
> estimate).
>
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