short-selling funds are going out of business, and gosh-darn it EVERYONE LOVES THE STOCK MARKET!
>>>>This can mean only one thing. <<<<
I had that idea recently when some money was flowing into small caps, immediately sending them skywards while big caps and 1st tiers did little. Many thought that can be at least lead to a consolidation and index hedging measures appearently have taken place.
Alas, the nasdaq, Internet 1st tiers led by Yahoo showed renewed strength fuelled by tame macroeconomic indicators.
Too early before January to latest April 2000?
Unfortunately, I don't see any slam-dunk shorting themes such as Y2K stocks in early 1997
Yes. There are simply too many such themes.
Keep in mind that 10, maybe 20% of the recent (internet / infrastructure-related) high-flying stocks will be around after the dust settles.
Who guarantees that AKAM, SCMR, ATON, FFIV, PHCM etc will be successful? You will find at least one "VUSA" amongst those ones even in shorter term.
For the whole Nasdaq Composite, SOX or even the Internet Index pay a look at the Nikkei and Japan OTC indices a century ago.
There are remote odds that the Comp can do the same plunge after the Y2K buying binge (this one replaced the Y2K panic) ends - the odds are nonzero, and rising daily. |
