the Dow could easily drop to the 5,000 or 6,000 range.
James Shepherd, editor of the Shepherd Investment Strategist in La Jolla, worries that the current level of trading -- which has been approaching 2 billion shares per day -- may begin snowballing as investors start to panic. If the current exodus of investors turns into a stampede, he fears that there could be a dramatic crash in the market.
Shepherd, who pulled his money out of the market not long before its high-water mark in 2000, said that by historical standards, the Dow could easily drop to the 5,000 or 6,000
The San Diego Union-Tribune
January 1, 2003