The Nasdaq is on track to beat its performance of 1999.
I did the math. Nasdaq ended last year with ~86% gain, to end at ~4050. I can't see on the chart the exact numbers, but that is very close. So, let's estimate a modest increase of 10% over last year's gain, which comes to 94.6% increase over the 4050 level, or a rise of 3,831 pts. That's right: The Nasdaq under this senario ends 2000 at 7,881. And it's on track to do it: Take the rise of 3,831, and divide by 6 (2 months have passed, or 1/6), and you get 638. So add those points to where the Nasdaq ended 1999, and you get (4050+638)=4,688. Where is the Nasdaq right now, on the last day of Feb: 4,696.
Now obviously stocks usually don't go up at the same rate, month after sequential month. However, so far this year, 1/6 of the year 2000 is gone, and the Nasdaq is on track to beat it's performance of 1999.
Let me add that I don't think the Nasdaq will end 2000 at 7,881. But so far, that's where it's aiming. |
