"if u look at a monthly chart this big bad pull back don't really look that bad...."
I know, but if you understand where we are in relation to time and demographics, and keep that in mind when viewing that chart, the NASDAQ looks to me, like we're in the last rally before a crash.
This rally will take the NASDAQ to 3600-4300 and then crash. Right now, it looks to me like the NASDAQ is in an EW wave4.
The crash will start late in 2009 and bottom sometime between 2012-14.
Markets will lose 90% of their value.When that happens, buy a healthcare ETF. You'll do fine.
Again, JMO, and I'm no professional, just an average Joe. :>)