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Some comments were being made about the similarity in the weekly price pattern between now and 1987.
There was a 10 % correction early in the summer of 1987 and another ~8% correction in May. One thing that leapt at me is the underperformance (on the decline) of the Nasdaq Composite and NDX vis-a-vis the OEXand the SPX, atleast in the initial stages of the decline.
My own position : Fully short from yesterday.
Edited by kaiser soze, 21 June 2007 - 07:38 AM.