Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Tommaso who wrote (1244)	12/5/2000 3:39:44 PM
From: Scott Bergquist	Read Replies (2) of 74559

Why is this a "terrible illusion"?? The reality is, the Dow is at 10,885? 3M just jumped 10% today. What bond gets that kind of lift. The more victories for the "buy the dip" investors that are tacked on, the more permanent the bulwark. Some of the more desperate bears are saying "Dow 6000"..but are they the same ones, at DOW 3600, who thought 5000 was a "bubble". I am getting to feel that the more roundtrips the Nasdaq makes from sub-3000 to 3000, the =permanent= unlikely hood that realistic valuations will ever regain. Stock prices may languish for a few years, as profits catch up...but Nasdaq 2300?? After today's percent gain, no chance.

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