jxm, u know i'm into contrarian psychology, on a larger scale we had tremendous "goldilocks worldwide economy" speak in 1997, which was when the nyse summation and nyse new highs peaked in july/october 97, which was the precursor to asian crisis and the top in 98, which has preceded a two year bear market in the nyse a/d line, now the nyse is made up of real companies, with real earnings, not speculations.
i believe the "new economy" is equal to the "worldwide goldlocks" of 97 and that we should see and equal length bear market in tech, that should last till the 4 year cycle low in 2002, of course there will be boffo bear rallies to get everybody up on the slope of hope.
october 99 thru march 00 was a rare event, doesn't come along more than once a decade.
>>>The next phase will be based more in fundamentals>>>
thats a sad statement for tech investors, because they have nothing to hang their hat on but the hope that there is a greater fool out there to bid up their speculative investment on some news story or earnings surprise (which ain't happenin lately -g-), to a price that is way beyond what any serious businessman would pay for a business
3000 is now resistance, can the bullz come back an rally above it. |
