>He defines a crash as a 60% drop from the peak that stays below
>50% of their peak until the end of the year. Can that happen? I
>don't think so; today was a nice fall (those Jan 720 OEX calls were
>down $20, but closed at $50 -- still a nice run from the $13 in
>October), but watch for the bounce tomorrow. My only question
>remains: where will all the cash go? Just because the market took
>profits today doesn't mean that there won't be another few $B
>rushing in tomorrow.
>
>What are they going to do, buy bonds?
So by your logic, bear markets were never possible. Yet we've had many. Is it different now?
Doug