But I think that is much of the point. The vast majority of stocks are down and down hard. The drugs, the financals, Xerox, P&G, KO, Walmart and on and on. The techs reign supreme at this point with the difference between the NAZ and DOW being 30+% in the Comp's favor.
The market could correct 15-20% which would place the NAZ at roughly par on the year, no biggie but DOW and other stocks would be down on the order of 30% or so, according to the indexes, which can be deceiving at times.
People like us in the BRCM's, JDSU's, CMGI's and so forth are the exception, not the rule. For the vast majority of investors, the last 18-24 months have not been very pleasant.
Greenspan can make the "Doomsday" scenario happen... I don't think he is a Slim Pickens wanna be, riding a thermo-nuclear rate hike into the heart of Silicon Valley <ggg>... I think he is smarter than that. By late summer/ early fall the Fed will probably have to start lowering rates.
IMHO |
