Discuss Year 2000 Issues Message Board

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Technology Stocks : Discuss Year 2000 Issues

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To: flatsville who wrote (9543)	12/28/1999 9:22:00 AM
From: Hawkmoon	Read Replies (1) of 9818

The gap-up in the Nasdaq will be filled... eventually... probably down to 3300 or so. Most of the rally has been based upon a few selective stocks in these market cap weighted indices, such as MSFT, INTC, CSCO and YHOO. The rest of the market has been sold off in order to buy up these big boy stocks. So with the Naz up 80% this year alone, we could pretty easily take in a 30% correction from these levels under even normal circumstances, The market will broaden eventually and fundamentals will once again take precedence over Technicals and Psychology. Then the Naz will be a bargain hunter's dream or stick with ascending sectors in beaten down stocks. So what we have seen is a whole bunch of tax loss selling in smaller issues with reallocation of assets into momentum stocks. Look for profits to be taken during early 2000, which would be exacerbated by any obvious Y2K disruptions in the global financials markets. Also, watch what happens when the Fed takes back some of that liquidity they are pumping into the system. The only bonus is that 2000 is an election year and the Fed normally chooses not to mess with the economy too much. Regards, Ron

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