And that is where the two markets differ, volume is still tepid. At that August 1982 bottom, we had a string of 10 trading days, where there was not a single new high on the NYSE, on that last day, just a day before the turn, I said to myself, "how much worse can it be"? Unfortunately, at that time my investment resources where quite puny and my experience barely 5 years, so I got out too early and lost most of the gains on shorting what I thought was excessive bullishness early in 1983, little did I know c'est la vie... At least, I stayed out completely of the October 87 massacre, but had a lonely short which was badly selected, it dropped only 10% and the next day, almost all of that was lost. Recognizing my lack of ability to make money on the short side, I finally gave that up.
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