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Technology Stocks : Discuss Year 2000 Issues
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To: Howard Clark who wrote (6091)6/21/1999 4:35:00 PM
From: Bill Ounce  Read Replies (2) of 9818
 
re: Y2K correction timing

It does not look like the market is in the mood for a near-term correction (I know, famous last words... <G>) Greenspan has strongly hinted at a rate hike and the market remains not far from it's peak. After that, I wouldn't be surprised to see an 11,000 or even 12,000 DOW before Autumn.

Eventually, some people will get nervous over possible Y2K uncertainties and pull their money into safer things. Don't know if this will happen in August or November. My guess is October. Also don;t know how big this correction will be. My guess is 25% to 50%. (This is not all that big when you see how much the market has gone up the past 10 years.)

One strategy is to sell stuff in late Summer and hope to buy it back at lower prices come January/February... If problems are limited to FAA/government stuff that should be a profitable move.
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