RtS, I see that your quote from Briefing.com was actually taken from the Oct 9 report, the absolute bottom.
<< Finally, Briefing.com contends that the Nasdaq is very near a long-term bottom.>>
They didn't know how close they really were.:) From the same report,
<<The 1100 area might well hold over the short-term,
Not only the short term, but the long term as well. Being in the 1700's now, 1100 is quite a ways away, not that we can't get there. I have read in several places previously, where numbers like a Nasdaq 900 are "thrown around" as the number to reach before this long term bear is dead. Hard for me to believe that, but I always consider it a possibility.
<<value is slowly but surely returning to the tech universe.>>
We have a lot of value now - much, much more than 9 Oct 02. On 10/9/02, First Call earnings for the semi-equips were estimated at -11.70 for "this year" and 5.94 for "next year". Not very much value IMO. As you know, we have much more value now, 20.12 for "this year" and 31.14 for "next year".
I understand however, that the "market" pays no attention to earnings estimates for the semis and semi-equips. It does what it wants to do, when it wants to do it, and right now, it wants to go down - what can I say?:)
Don |
