Many CAN SLIMers were caught in this down draft. Several comments were made about the lack of big institutions in the stock.  Not one of the top five mutual funds was bigger than 2 billion assets under management. Four of the top five funds were under 1 billion.The Mutual Fund issue represented the fundamental problem with NQ.  However there were some significant profits to be had on the way up.  I see the problem with NQ as being the ever deepening pullbacks.  The High Tight Flag that many of us bought into on September 9th was a little on the deep side at 23% deep.  The next pull back was 27% deep.

      O'Neil says "In many cases, stocks that advance dramatically by 20% or more in only one to four weeks are the most powerful stocks of all—capable of doubling, tripling or more. If you own one of these true CAN SLIM  market leaders, try to hold it through the first couple of times it pulls back in price to, or slightly below, its 10-week moving average price line. Once you have a decent profit, you could also try to hold the stock through its first short-term correction of 10% to 20%."

      There was CAN SLIM money to be made in NQ entering at $10 at the breakout or at $19 coming out of the high tight flag. However, two corrections greater than 20% do not fit O'Neil's criteria above.