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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Bud G who wrote (24005)	4/14/2000 6:27:00 PM
From: herringbone_100	Respond to of 57584

this is mind boggling- taken from LASTSHADOW's thread: When the Nasdaq closed down 357 points today, it was putting the finishing touches on the worst week in its history. Overall, it fell 1126 points in five days (25%) and lost roughly $2 trillion in value. The Dow fared little better: It lost 616 points today - its biggest-ever, one-day fall - and is down 7% for the week. You're going to hear that the Consumer Price Index ignited the selloff. Prices rose 0.7% in March (compared with estimates of 0.5%), and this, higher-than-expected, inflationary pressure is sure to revive talk that the Fed will increase short-term interest rates another 0.5% at its May 16 meeting. But if markets were inclined to rise, there was plenty of good news on the earnings front to spark a rise. Sun Microsystems, for instance, reported an earnings increase of 49%, 3 cents a share higher than the consensus estimate. As a result, Sun was one of the few stocks to gain on this bloody day, but it wasn't enough to save others. No, inflation is not the problem. This is a fundamental correction of the recent, euphoric, momentum-driven, bull market. Plan accordingly. The last time the Nasdaq lost 30%, (in 1983-84), it took 18 months to recover. P.S. Today's winners? An ancient refuge: gold. Shares of Barrick Gold rose 7%, and Placer Dome was up 13%.