Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: LTK007 who wrote (61813)	5/4/2002 8:14:17 PM
From: Rock_nj	Read Replies (2) of 99280

I have to admit that I'm not much of a market technician. You have me there. But, we live in a technological society and I think sooner or later companies are going to have to spend money on tech projects that they've put off for years in order to stay competitive. Even now, tech spending continues, although at a much lower rate than a few years ago. I think we'll see a modest rise in tech spending next year as companies start planning for the future. Frankly, I'm surprised at how bearish this thread is. There are many posters who are predicting a NAZ below 1,000. I don't see it going that low. The long term trend puts the NAZ right where it stands today at 1,600. A drop below 1,000 would be an abberation, just as the run above 5,000 was an abberation back in 2000. Things would have to get a lot uglier than they even are today for a NAZ 1,000 scenario to come true and I don't see the rationale behind that. Why will tech spending drop significantly from already depressed levels? As I've stated before, I think the opposite scenario is likely, a modest rebound in tech spending in the coming years.

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