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Pastimes : Nasdaq Bottom?

QQQ 629.07

+0.5%

Oct 31 5:00 PM EST

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To: Mr. Aloha who wrote (8)	12/24/2000 3:31:06 PM
From: Gary105	of 73

Technically, a lot of support in the mid 2300 - 2600 range; i see a cap at 2850 (former breakout gap); once 2200 - 2300 is broken a drop to 1600 - 1700 is possible and ultimately probably imo: finance.yahoo.com^IXIC&d=5y also year after presidential election is historically worst for markets - and many republican administrations have encountered recession in second year of term. Although a rally at any time is possible, i'd feel more comfortable if the rally is based on fundamentals. p/e of nasdaq is still stratospheric so fair valuation should take it into the teens. especially given slowdown of eps growth with slowing economy. so from a fundamental standpoint i also believe nas should trade in the teens. whether fundamentals will prevail over the greedy tactics of many wall street investment houses remains to be seen.

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