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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium
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To: stan s. who wrote (28646)11/16/1999 10:38:00 PM
From: stan s.  Read Replies (1) of 108040
 
Nasdaq comparison to last year. Did a little number crunching comparing the enormous surge on the Naz last year starting around this time contrasted to the move we're in the midst of now.

Last years surge started about October 8th at roughly 1420. That incredible upturn ended on February 1st at roughly 2500. That's an increase of about 75%. Amazing...

This years surge started on October 18th at roughly 2689. A 75% increase would carry us to....4705. Hmmmm, but keep in mind this is already a 23% increase from the open on October 18th to today's close.

Not implying the results will be the same, remember we were coming off a fairly severe correction last year, connected with but not limited to, the difficulties in Asia. We did not have as significant a correction on the Nasdaq (10% I think) this year prior to this move although the Dow and NYSE had a rougher time.

I went mostly cash today, not to hide but rather to take profits and be ready to move as swiftly as I can. The Nasdaq is overbought technically but until it actually shows signs of weakness, the prudent course (IMO) is still to trade it with a combination of vigor and caution, something this thread seems very adept at.

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