Other odd signs are the lack of bottom fishing going on in such hammered down stocks as Sears and Lockheed. Fortunately, Floyd didn't hit the whole planet, unlike the coming Y2K storm. Hurricanes are hard to predict when and where they will strike, but the damage they inflict is well understood. It's easy to let your imagination run wild. Whatever the Y2K outcome, it will be temporary.
Next year looks like a continuation of the bull market, which is still quite intact.
No matter how far the markets correct, the economy is solid. Productivity and earnings are projected to increase steadily. The big question for investors is not whether there is going to be a correction this autumn but where to call the bottom. We may be heading towards the last great buying opportunity of the century. Your comments are welcomed.