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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: TWICK who wrote (16437)	3/18/2003 12:44:07 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 19219

there used to be millions of car companies but by the late 40s we were left with so few they had pricing power and became these huge profit engines. The war drove most of the me-toos out. The nasdaq with the same number of companies we had in the 70s, given the acceptance of the nas as a reasonable exchange for a mature company (big companies used to leave the nas) and the shift to an information economy probably means those companies left are going to be quite profitable. You can still have a great bear, but this consolidation is working contrary to that. We probably would have seen new lows by now on the nas if all these companies weren't closing up shop. One thing that could take down fairly severely is if we get some real chinese competition for software and networking. Right now its just a trickle out there. But in lieu of that, my guess is worst case nas stays flat for 10-15 years.