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Strategies & Market Trends : Sharck Soup
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To: Venkie who wrote (16689)4/17/2001 10:56:54 PM
From: DebtBomb  Read Replies (1) of 37746
 
The big money was made shorting over the last 7 months. This Nasdaq chart is ugly, and nothing to be excited about, IMO. The current pattern looks like the end of May bounce last year, which took us from about 3000 to about 4300, or up about 43% off the bottom. I think it's reasonable to at least expect the same, up about 43% off the bottom, or from 1619 to about 2300, IMO. All the while, the Nasdaq P/E keeps going up to record levels.
I don't see good enough news to take us much higher than that, IMO.
IBM tomorrow.
bigcharts.com
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