RE "IF it goes to 3000 THEN that would be 800/2200x100% = 36.4% You are not asking for much, eh?"
Kirk, Nobody knows where the Nasdaq will end the year, we are all guessing. I only stated that I hope it hits 3000 by year end. I also stated that I am considering the bear arguments very carefully now as well. Maybe I am too bullish, but I think one should be more bullish on the Naz at lower levels, and I think there are clear signs that will be coming out of this economic slowdown soon (Fed easing very aggressively, low inflation still, inventory problems winding down, tax cuts, lots of pessimism, plus tons of money on the sidelines). For the Nasdaq to hit 3000 it would indicate that the economic picture for technology has improved greatly. I think that is quite possible by then. I find it interesting that at 5000 most people thought it would go to 6000, but the view at 2200 is that we can't go much further, even though we almost climbed to 3000 less than 4 months ago. The crowd tends to be wrong, the more I hear people say the Nasdaq can't go much further, the more I will believe the opposite will happen. When techs are flying again someday I will be moving money elsewhere, but not now. I have heard arguments all over the place as to what the proper valuation should be on tech stocks, but the market seems to make up its own mind. The same is true for non-tech stocks. A recent Barrons article suggested the Dow should be at 2500. I would not be waiting around for that to happen at this point, or for the Nasdaq to go to 1000.
John |
