Anybody following the Nasdaq? I'm not very qualified but I'm learning a bit about technical indicators. I think we'll continue to see selling down to at least 1900. It's about 2150 right now.
Short term Nasdaq - Up or down?
- Thread starter Baker
- Start date
The trend will continue as tech stocks seem to be falling off the face of the earth lately. Only the larger technological firms tend to be stable, if not declining. Sure there are many profitable new tech stocks out there too but they are few and far between. If you look at the way the newer tech companies had seemed to explode in the late 90's and then take a nose dive in the present and not too distant past you can see what I mean. There was an outstanding piece 20/20 had done on this a couple of months ago. It illustrated the markets turns within the last 5 years and also what happened to these companies once they went into bankruptcy and became solvent. It was very good. I think we'll see much of the same within the next few months - I can see it dropping to 1750-1800.
JMHO,
kneifl
JMHO,
kneifl
Thanks Kneifl.
Yes, I can also easily see sub 1800. I'll be very surprised to see sub 1600 though so if we do get in 1800-1900 level I'll be buying. Too many companies warning, rate cuts still not taking affect, energy too high. I'm not in to following the fundamentals of all this but this is what I'm hearing for reasons the Nas is slow to rally back. Maybe Greenspan cuts 25 more points next week. Who knows. I'll see if they repeat that 20/20 spot. Sounds interesting.
Yes, I can also easily see sub 1800. I'll be very surprised to see sub 1600 though so if we do get in 1800-1900 level I'll be buying. Too many companies warning, rate cuts still not taking affect, energy too high. I'm not in to following the fundamentals of all this but this is what I'm hearing for reasons the Nas is slow to rally back. Maybe Greenspan cuts 25 more points next week. Who knows. I'll see if they repeat that 20/20 spot. Sounds interesting.
One truism; never fight the fed. Greenspan has been making up for the tight fisted policy that he followed in Feb-April 2000 which may have rushed the great tech crash. He now is telling you the investor BUY!!! Take a look at CORV (at one tenth its true value) and GX. Both of these plays should reap the benefits of a friendly fed(the rate cuts WILL affect the internet infrastructure stocks first). If you look historically, rate cuts ALWAYS equal a significant rally. This is your opportunity to buy the future at one tenth the price.
- Feb 12, 2000
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PJ
I love seeing other Bulls bearing their heads in times like this. I agree with the others that we may not be at rock bottom, but in the long run, the prices that you can get right now will be profitable.
Will they be the best price that you will ever see? Maybe not. Are they good prices? Yes.
Right now, finding solid companies regardless of industry is a very wise thing to do. I am all for swinging for the fences when the time is right, but right now is not that time. We need some base hits to get the team ready for a rally. Wait to do your risk-taking for another time. Buy the strong companies at weak prices while you can.
A little over a year ago, people were slaughtering me for buying Phillip Morris around $20 just because that was not what the sqwuaks were preaching on TV. Just a lesson that those guys don't know everyhting. I have also had my bad investments in the past year (buying WebVan at $0.40. Now the company is bankrupt), but that was me swinging for the homerun in the wrong situation. I swung hard and pooped out.
Good luck to all with your own personal strategies, but I agree with PJ Kray--Don't fight the Feds. Now is a pretty good time to buy.
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Sic 'em
dawgball
I love seeing other Bulls bearing their heads in times like this. I agree with the others that we may not be at rock bottom, but in the long run, the prices that you can get right now will be profitable.
Will they be the best price that you will ever see? Maybe not. Are they good prices? Yes.
Right now, finding solid companies regardless of industry is a very wise thing to do. I am all for swinging for the fences when the time is right, but right now is not that time. We need some base hits to get the team ready for a rally. Wait to do your risk-taking for another time. Buy the strong companies at weak prices while you can.
A little over a year ago, people were slaughtering me for buying Phillip Morris around $20 just because that was not what the sqwuaks were preaching on TV. Just a lesson that those guys don't know everyhting. I have also had my bad investments in the past year (buying WebVan at $0.40. Now the company is bankrupt), but that was me swinging for the homerun in the wrong situation. I swung hard and pooped out.
Good luck to all with your own personal strategies, but I agree with PJ Kray--Don't fight the Feds. Now is a pretty good time to buy.
------------------
Sic 'em
dawgball
Don't know any other way for stocks but up long term. Is bottom here. Maybe. Maybe not.
June 2002 Nasdaq 2800/3000 sounds close.
There are good companies for 2/3 off. It's like a fire sale.
June 2002 Nasdaq 2800/3000 sounds close.
There are good companies for 2/3 off. It's like a fire sale.
I'm not overly bearish myself. I'm currently looking for a good spot to jump back in and yes now is not a bad time to start scaling back in. However, I still tend to think we've got a bit more downside to go mostly just on contrarian hunches. I.e. everyone maybe starting to think that we won't stay under 2000 (we're at 2009 as I'm writing this), and that cuts should start taking effect any day now, and stocks are way undervalued (which I don't necessarily agree with). So my contrarian view is maybe there is some more downside (probably not a lot, but some) to shake a few more weak bulls out of their tech stocks. So I'll stick with my 1850-1900 guess (and that's really all it is) for a Nas bottom.
For those that are interested there is a company that allows you to bet fixed odds on Stock Markets, Foreign Exchange and some shares (see my profile for website - look under Financial Betting)
