The Rout Is Far From Over for Tech Stocks

If you think Nasdaq 1500 is bad, brace yourself. We'll see 1150 soon enough.

Last November, Detox predicted that the Nasdaq Composite Index would hit 1500, a drop of more than 40%. Ten months later, that milestone is in the rearview mirror -- and the outlook for stocks is bleaker than ever. The economy remains unsteady and political risk has rocketed off the charts after a long absence during the boom.

This nasty new world order means that after a Fed-inspired rally or two, you can expect the index to drop an additional 25% or so, hitting levels it last saw in 1996. ...