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Strategies & Market Trends : MOVING NOW!

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Jun 26 5:00 PM EST

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To: nokomis who started this subject	12/2/2000 11:37:31 AM
From: kendall harmon	Read Replies (2) of 8046

Investors' pain nears unbearable levels NEW YORK — One of the small comforts of the brutal downdraft in technology stocks this year is that it mostly wiped out just the so-called paper profits the bull market had created in so many portfolios. So much for small comforts. The Nasdaq has hit three consecutive lows for the year. Thursday, it plunged 109 points, or 4%, to 2598. Forget for a moment that the Nasdaq is down 36% for the year, 49% below its March high. Instead, consider that it is at its lowest level since Aug. 12, 1999. So the past 22 months of gains in arguably the greatest bull market in history — and much of the fresh money invested in tech stocks during that time — have been erased. Investors who dove into tech stocks as they drove to their peak earlier this year are in the red. Longer-term investors who didn't sell their holdings are in danger of watching their profits disappear. Financial pain for investors could soon reach unbearable levels. The rest of this important article is at: usatoday.com

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