Over the past 50 years, the average gain in the stock market has been roughly 16 percent a year. That, considering where we closed at the end of 1995, would put us just under 6,000. Those are big numbers, but on a percentage basis they're within the scope of a bull market.
We are concerned about the gain and loss of confidence, but there are different areas of the market that are depressed.
The fact that we were only down 20 points after the inordinate gain yesterday was pretty impressive.