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Strategies & Market Trends : Point and Figure Charting

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To: mwj6 who wrote (25547)	8/16/2001 9:30:29 PM
From: Bwe	Read Replies (1) of 34813

Latest from Chartcraft on the Nasdaq through yesterday's action: The NASDAQ Composite was down 45.64, or 2.32%. It broke its recent low. It is well below its down trend line and 200 day Moving Average. It has been showing a pattern of Lower tops and bottoms since March 2000. It is down 22.33% for the year and 50.30% from 12 months ago. It made a 4-month low yesterday. Nasdaq earnings: The WALL STREET JOURNAL reports trailing earnings for the last 12 months ended July 31st showed a loss of $148.3 billion and this wiped out the cumulative earnings for the last 5 years. The NASDAQ COMPOSITE stood at 1043 in September 1995, soared to a high of 5,048.62 by March 2000 and is currently at 1918.49. Because of the losses no Price Earnings ratios can be calculated. NASDAQ still way, way overpriced. Bruce

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