crash part two, page-16

Morn Ja , I'm having trouble getting my head around it all , in relation to xjo xao .

But if it was a perceived flight to quality then xjo should be above xao as the larger caps are more secure .

In my short minded view when xao is above xjo like at 2001 tops and our 2007 highs it is because folks are piling into the more speculative end of the market while blue chips are being distributed .

The point in question was yst when many banks were retreating but lots of small caps [those not in xjo but in xao ]were having a major percentage move upwards .

Maybe this time we need to see xjo 40 points odd above xao to declare a bottom or maybe as u say we really have entered a bear market which could last for a considerable time .

I've never been good at the downside so will stand aside .

cheers ge