I would say that a 4 to 6 months move from around 2300 to around 1700 or so, or a 20% plus decline classifies, and that might be followed after a sharp rally by another major step down into October 2005 maybe as deep as 1400 on the Naz, that will be almost a 900 Naz point declines in less than a year. Would you classify that as a "grand Nassacre"? Tentatively that is what I have on the plate after we gloriously march to nirvana in January February. I now hear commentators wanting to value stocks like SIRI rationally at 5 times their 2010 "expected" revenues.... deja vu all over again.
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