In a perverse way, it is optimism.
Consider:
In the week ending June 5, 2000, the Naz closed at 3874.84 (having dropped over a thousand points in three months)
One year later, in the week ending June 4, 2001, the Naz closed at 2215.10. That is a one year decline of 31.4 percent.
Another year later, in the week ending June 3, 2002, the Naz closed at 1595.26. That is a one year decline of 28.0 percent.
If one year from now, in the week ending June 2, 2003, the Naz closes at 1200, it will have only declined 24.8 percent from the previous year.
Each year it is getting better. <weak grin>
EDIT: Historical NAZ prices, weekly, during period:
table.finance.yahoo.com |
