Softechie: I've got to disagree with you on this one.
Although summer is a seasonally weak period for techs, and techs (NASDAQ) are due for a correction, I would be surprised if we actually retest the low of 1640. Rather, I think the summer low will be higher, perhaps 1800. As we get closer to September and October, the Fed interest rate cuts will begin to influence the market, corporate spending, venture capital, etc. and will stimulate the economy.
This will, however, be a purely Fed-induced rally and will be short-lived, perhaps into February 2002. It will NOT correct the fundamental economic problems and will NOT be the start of a new, sustained bull market. 2002 will show continued weakness for much of the year. However, I cannot see NASDAQ retracing back to 1640 and certainly do not see the doomsday scenario of NASDAQ 1100-1300. |
