Jannie....you're the one to do it!!! shimmy and shake all the way to the Jackpot at the end of the Rainbow.
.....have you seen
this...pretty amazing.....John
Before we get into the shorter term aspects of the market, we feel
compelled to share some truly startling facts that we read on the internet
today from Fred Hickey, publisher of the High Tech Strategist. The increase
in valuation of six technology stocks over the past 20 months, (those are
Microsoft, Intel, IBM, Cisco, Lucent and Dell) is more than the value of
every stock traded in the United States in 1982. Mind you, we did not say
the current value of those six stocks; we said the increase in value over
the past 20 months in those six stock. One more tidbit from the same
source. Last Friday, September 3, those same six stocks increased in value
63 billion dollars in that one day. That one day increase in valuation
would have been enough to purchase, IBM, Hewlett Packard, Intel, Microsoft,
Motorola, Cisco, Sun Microsystems, Texas Instruments, Oracle and Micron
Technology in 1990. In other words, most of the technology industry in 1990
is an even swap for one day's gain in six stocks today. Hickey finished
that paragraph by exclaiming, "This is insane!" And indeed it is. Our
problem, of course, is in discerning where and when the insanity ends, and
that has been a lot tougher puzzle to solve. |
