The big four I have been watching for the past several months i.e. Apple, Google, Research in Motion, aka RIMM and Amazon are all collapsing now. Do they represent the economy in any meaningful way? No! Do they signify market sentiment in any meaningful way? I say yes. THere are always desinger stocks that groups pile into because they think they have found a unique island of safety that they can always run back to in times of chaos. In many ways these guys have been "nifty-fifty" like stocks of this bear market rally. They are breaking down big time. RIMM started it a few days ago, now the others are following suit.
People are pulling their dollars out looking or a place to put them. Where will that be? It might take time, but eventually the general populace will realize that their dollars are stock certificates of a sort also and losing value as well. The run will have to be back into something that is not losing its value.
There must be some investment out there that has intrinsic value. Bull