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Politics : Idea Of The Day
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To: Jerry Olson who wrote (25816)4/28/1999 10:15:00 PM
From: wmwmw  Read Replies (1) of 50167
 
I think NAZ selling is not profit taking. There is more serious reason behind this.
The market has yet to decide whether PC sales is slowdowning.
4/19 NAZ selloff was related to CPQ bad report, which the market interpreted as a signal of PC slowdown. And then IBM and AAPL good reports relaxed the market.
But when I read today's hardware sect report, read between the words, I had a feel that PC sales is really slowdowning this year. If this is true, the impact on economy will not be small, as computer industry is the major powerdriver of the economic growth.
Let's see DOW and NAZ diverge: NAZ reflect expectation for far future and DOW reflect past and near future.
Expect NAZ selling to continue and drag DOW down together.
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