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Strategies & Market Trends : The New Economy and its Winners

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To: Bill Harmond who wrote (1873)	10/3/2000 8:56:59 PM
From: Wizard	Read Replies (3) of 57684

William, So what do you make of this market? The NASDAQ has failed to make a new high after peaking 207 days ago. This hasn't happened in a very long time. The Dow took about 22 months to reach a new high in 1987. However, after the Dow crash in '87 the chart never looked like the NASDAQ does now. I have to say that this move down is a little scary and somewhat baffling. My company fundamentals appear to be excellent, the Fed is not in tightening mode and inflation is not a threat. Moreover, much of the pure speculation was taken out of the market last April. I do admit that certain segments may be entering their own industry-specific recessions (the PC and PC component industries for example). MSFT, AMAT, NOK, INTC, LU, WCOM all look like death. Breaking 3500 on NASDAQ was either just a sign of the times (volatile times) or we are entering something more significant. I was just thinking normal pullback until we broke 3500. Hopefully, Greenspan will save the day again. Can you make any sense of this current weakness?

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