The Biotech Bloodbath: Here’s The NASDAQ 2000 Playbook

Speculators buy what is going up. If it keeps going up, they buy more of it. They may "climb the wall of worry"....soon more savers decide they need to gamble so that they can eat.... Then more savers stare at the cat food in the cupboard and climb aboard. Leverage contributes to the rising tide....margin debt is close to $500 billion--- above the highs in 2000 and 2007....
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