David, all - What a day! As the SI post of the day says, we're back to December.
Re: NASDAQ, there were bargains all over the place, for those with cash, a monitor, and the time to stalk stocks.
Same with Toronto.
What's going to happen? We're going to see more wild volatility throughout the rest of 2000.
Are tech stocks dead? No, but the small-caps are out of season.
What surprises about this correction (it lasted about 2 hours when we dipped below 20%) is the continued existence of the "buying opportunity" mentality on the market.
How's it going to work out? I used to think I knew, but I don't have a clue. My best guess is that it'll be a little spurt back to low thirties in April and May, low fourties at best, and after that, I give up. Doldrums in the summer, slow appreciation in the fall, who knows?
Crunch. |
