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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Justa Werkenstiff who wrote (42009)3/19/2002 9:13:02 PM
From: t2  Read Replies (1) of 99280
 
Wilshire 5000 made a new recovery high today. I expect the SPX will follow.

So many different indices are hitting highs. When one considers that the DOW represents a huge percentage of the SnP 500's market cap, one can make the case that the "negative wealth effect" may not have been as bad as Greensan once feared. Can't believe that the Dow is at levels of 2 years ago...early 2000! That is amazing.
Maybe there was wealth creation for a large group of investors that offsets some of the negative effect on wealth on tech investors.

I think the highs in the value stocks is a good sign for the Nasdaq in the near term. I also believe that the Nikei huge rally will help the NaZ. Remember the similarity of the Nikei and Nasdaq's charts on the way up and on the way down. For the Nikei to rally from 9k to 11k is significant.

When companies start hiring, they need more computers, more servers, more routers...it is just a matter of time...if one accepts the recovery scenario.
Considering that we had 10 out of 12 weeks of outflows from the Nasdaq, that has to be a good contrarian indicator. Those that hold techs now may be unwilling sellers at current levels--just ahead of a recovery.

We should be in the early stage of a major rally in the Nasdaq going into April..BWDIK.

jmho
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