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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 226.21+2.5%3:30 PM EST
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To: 16yearcycle who wrote (120671)3/17/2001 6:28:26 PM
From: Sarmad Y. Hermiz  Read Replies (2) of 164684
 
>>I now figure I have to be prepared for the sp to go to 1050, dow 9200 and nas 1500-1600, maybe 1350.

EK, you're one of very few people posting anything relevant (or even remotely related to investing). I am glad you're doing it on this thread rather than on the censorship thread.

Regarding these support levels. I think your method for evaluating the sp500 is reasonable. And for the Dow, probably a P/E of 15 can hold. But the nasdaq cannot be treated as one entity. I think there are still maybe a thousand names in the nasdaq that will simply disappear. And their market cap will evaporate with them. Names like efax and ivil, pcln and other new economy favorites. Maybe nuan, cmrc and arba will be in this camp also.

I think the nasdaq average is more of a sentiment indicator than a measure of value. If it really measured economic value, then a P/E of 15 or whatever will apply to it. At that level, the nas avg should be 500 or something like that. But I don't think that is the function of that indicator. It really reflects how people treat stocks as a gambling vehicle. So if the potential gamblers are flush with money, the nas will be high. After they've been fleeced, it is low. Then you have to wait till they save up from their salaries enough so they can lose it to the card sharps who congregate at the "investment conferences" where they get tips on what scams the brokers will run next.

I hope that explains it. And I also hope all of us here have our money in enterprises that have a realistic profit potential. Anything else is going down to zero.
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