>and the 52% drop for Apple yesterday...in one day!
Why did they warn at the end of the quarter? Anyway, a little perspective,
Perry? Even if the stock was over 70$ 6 monthes ago, a year ago the stock
was at 30$ and now it's at 25$. Is it a big deal? It's only one company, and a
company which is in a peculiar competitive postition (people don't know what
to think about it).
Another interesting stock is CMGI: The company has been losing 40 cents per
share per month for the past twelve monthes. In March, the stock was worth
more than 160 dollars and it's now worth a bit more than 25, the level at which it
was in around 20 monthes ago. But it's still up more than 4000% over the last 5
years (compare with around +450% for Intel and Microsoft and +150% for the
S&P500)! Two years ago, it was still worth less than 10 dollars...
>has it begun?
I have been consitently wrong in the past. Everytime I thought "it" had begun, it
has been the start of a huge rally. ;-)
Nevertheless, my opinion is that despite the fact that the imbalances (what a
smart word :-) are near all-time highs, they are not as severe as they had been
and, more importantly, the momentum is currently not towards a worsening of
the situation as it has been during several periods this year. Of course, it could
change ANY DAY...
As to obscure indicators, it seems that the TED spread closed above 75 BPs
for two days in a row while utilities rose... for six days in a row (from 366 to 398
on the DJUA)!
BTW, what's "it" for you? If it's THE crash and not simple a financial crash, I
suspect you may be thinking that the stock market is more important than it is.
THE crash will not be annouced by a drop in the share price of Apple.
Julien
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