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John,
Yes I was there and 21, basically fresh out of college at the new company I
had gone to work for and I saw grown men crying at their desks because of
what had happened to their net worth, as I recall a 65+% drop more or less.
I have never forgot it and never will. I don't recall whether they were in
individual stocks or mutual funds.
don ewers
----- Original Message -----
From: "John Nelson" <trader@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, March 18, 2001 4:34 PM
Subject: Re: [RT] Reflections on the NDX
> On Fri, 16 Mar 2001 gary@xxxxxxxxxxxx wrote:
>
> > Curious to see how far and how fast NDX has been unwinding time,
> > I rigged up a plot that reflects NDX around the 3/27/2000 top. Ie, for
> > each N-th day after the 3/27 top, the data was plotted N days before
3/27
> > (where days are measured in trading days).
> >
> > As you can see: Recently NDX broke below prior readings - signalling
> > that it is now falling faster than it rose in the manic Y2K rally.
> > NDX also broke major support, and at the current rate of descent,
> > it won't take long to tag the 1998 lows.
>
> This is to be expected. Downside moves are usually sharp and nasty. I
> would be VERY concerned for a protracted downturn that takes years to
> bottom out. Anyone here remember the early 70's?
>
> -- John
>
> __________________________________________________________
>
> John T. Nelson | John's Trading Journal
> trader@xxxxxxxxxxxxxxx | http://trader.computation.org/
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