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Strategies & Market Trends : Waiting for the big Kahuna
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To: William H Huebl who wrote (48697)10/3/2000 11:29:54 PM
From: Gary105  Read Replies (1) of 94695
 
My comment applied mainly to the Nasdaq, but I think the S&P and Dow will also be impacted. Over time the indices should trade at more reasonable multiples which implies significant downward movement in Nasdaq, even allowing that the Nas should trade at multiples higher than the other averages. Imo the conditions are ripe for this to continue to occur during the next year - it began for the Nas in March. Imo the drivers will be a slowing economy, energy prices that come down only modestly, and politicians whose expansionist spending or massive tax cuts (take your pick) ignore the possibility that the "surplus" may be far less than envisioned. Bottom line - imo we are in the middle of an extended Nasdaq kahuna.
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