Market crashes NEVER happen when people are bullish. How can they? If everybody thinks their stocks are going higher they are not going to sell en masse. Market crashes occur when everybody is bearish and fear stocks will go lower. So they sell their stocks and, lo, their fears are realized.
Market tops are put in when folks are bullish. I think you were confusing putting in a top with a crash. People often talk a crash as falling from the previous peak. Like in 1987, the peak was on August 25 at a Dow of 2722. The Crash came on October 19 when the Dow hit 1730. So folks talk about the crash "starting" in late August when bullishness was at it maximum.
This is simply not true. The market peaked in August 1987 in a wave of bullishness, just like it always does in the myriad of market peaks that do not preceed crashes. It then corrected in September and people got pessimistic just like they always do in a correction. Then the market rallied back to ~2640 on October 3. Obviously the correction "bottomed" in September, it was over.
The "peak" on October 3 was 3% below the August peak and I'm sure people were less bullish then than they were in August. There was no reason to suspect that stocks wouldn't go higher though. Profits were expected to be good (and they were, profits on the S&P 500 were to grow by 30% over the next 12 months).
Stocks didn't go higher after October 3. By Friday October 16, the Dow was down 15% from its October 3 level in another grinding correction, worse than the one in September. In the week that ended on October 16, the Dow had fallen 225 points (this is like 1000 points down in one week today). Folks were, quite naturally, very bearish.
So bearish that it looked like a bottom to some contrarian "bottom fishers". On Monday morning it was clear from the premarket futures that the market was going down.
undiscovered sector of the internet. I speak of virtual cities where people can become citizens and settle in an area of the city according to their interests. Fortunecity might be the leading company in this most valuable sector of the internet The great value lies in the fact that consumer groups can be targeted according to their interests and that virtual cites are structured in a very simple way that also people who are
no experts in the internet don't get lost in the web. Fortunecity is an US based company, which choosed to have the IPO not on the Nasdaq but in Germany ("Neuer Markt Symbol FCT").
Some facts: Fortunecity.com has a total number of "citizens" of 3.5 million at a growth rate of 1% per day. The company has a lot of cooperations with companies like Warner (via acmecity.com, Ebay, and CBS). At the moment the company is ranked No.15 under the internet properties on the WEB. It is ranked in front of EBAY and CDnow.
Only 25% of the companies equity went public (5.8 million shares). The total amount of shares therefore is about 23 million. The market cap is therefore about 300 Million$.
The company has sites in English, Swedish, Spanish, French in the Netherlands and is opening one site after the other. The IPO Price was 15 EURO and currently it is trading at 11.5 EURO.
Nearly every day the company announces cooperations and acquisitions. It is expanding in an incredible speed. This company is moving in an area which is most promising in the internet and it is the leader in this respect. This company could be in a stage "Yahoo" or "Ebay" was two years ago. The only difficulty is that you have to trade the stock on the German market, but what in reality makes no big difference for you if you buy via your broker.
I opened a group on silicon investor where you can find more information: