lost faith, page-4

Down to roughly a third of the 52 week high is not bad for spec shares in the current market.

BHP, ANZ, NAB etc have traded at around 50% or below their 52 week high.

SUN and several other "blue chips" have traded at about a third of the 52 week high.

Panic leads to more panic. People will continue to pull money out of the market, completely ignoring the fundamentals of the company to ensure they have cash.

Fundamentals will come into play again at some point. The world is not going to end, and as long as the company does not need to do a capital raising in the short term should recover.

The market is completely irrational - look at a stock like CLU - $7.5M in the bank and the market cap has been down to less than $3M!

Distressing, but shows the power of stop losses (as I have learned to my chagrin) to protect you no matter how good you think the story is.

Right now I think one of the big positives is that the Dow is not that far away from 7000 - roughly half what it was last year - and while a 50% loss would be massive I think that it couldn't get much worse than that - with the proviso that I never thought it could get as bad as it has! (I thought calls of 10500 just a few months ago were nutty nay-sayers).

Tough times all around - good luck.