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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?


To: StanX Long who wrote (60866)2/22/2002 12:36:27 AM
From: StanX Long  Read Replies (1) | Respond to of 70976
 
10,000 reasons to sell
02/21/02 04:06 PM ET

money.msn.com

Investors dump shares after Dow hits five figures. Ciena and Intel help take techs down. And yet, some are saying it’s rally time.

What’s so scary about the number 10,000? Every time the Dow Industrial Average scrapes it, the market shrinks back.
Investors flirted with a follow-up rally today after Wednesday’s strong gains, but ultimately, they demurred. The Dow, while bumping above 10,000 in the middle of the session, ended the day with a substantial loss. Before January, the Dow finished above 10,000 in only four sessions, and the number continues to serve as something of a ceiling. The Nasdaq Composite Index never looked good, dropping 3%.