an alternative view of NASD <<To:Zeev Hed who wrote (16684)
From: Richard Wang Sunday, May 27, 2001 4:58 PM
Respond to of 16691
Zeev,
I think NASD will continue going up, with some rest around 2500 on the way to 2900, and I have put up my money with that view.
Of course that is also the possibility it will turn down, and test and even breach 2057. In such case, NASD will likely go down more. Alan Greenspan will be very concerned, and he will likely do more to reverse such drop (despite what he says about his disinterest in the market). Before NASD hits 2057, I will be selling my positions, as hell would be breaking loose, with great deal of bad news floating around much worse than the recent B2B numbers. But I just can't see this scenario happening.
Last year when the market was going down, even very good news and earnings were met with stock price drops, as they anticipated the bad news. We are in the opposite camp now, as market is ignoring bad news, expecting things to get better.
Which way the market is going will be known soon during the coming week and two. You know which way I am betting.
Richard >> end quote |
