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Strategies & Market Trends : MOVING NOW!
CTIC 9.0900.0%Jun 26 5:00 PM EST
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To: nokomis who started this subject12/16/2000 1:00:35 PM
From: kendall harmon  Read Replies (1) of 8046
 
I am looking for a nasdaq bounce next week, there are a number of short term indicators which indicate it is oversold in the extreme. But medium term I am still concerned about the valuation of the tech sector.

From today's Washington Post

William Nygren, money manager for the Oakmark Fund, said the market had convinced itself that many of the recent troubles were caused by uncertainty in the presidential election. "What the market has shown in the last few days is that was a pipe dream," said Nygren, who manages about $4 billion in two funds.

Now investors are facing up to the fact that more fundamental problems are at work, he said. "Technology stocks as a group are still priced as though they're going to grow 35 or 40 percent. It's not going to happen."
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