No Crystal Ball Here
You will not find in this space any “pearls of wisdom”
as to when the market will bottom.
Ughhh…
I don’t remember a group dropping as
much in a single day as the genomics did Tuesday, freefalling as much as 23% on average at midday.
The Follow Through (late update)
Egged on by
the usual suspects, the Nasdaq bagged a convincing follow-through
Thursday, adding to the prior day’s scrap of evidence that the worst is over.
Better Than A Poke In The Eye
A comeback. Of sorts.
A nice one-day performance
With investors already discounting a Fed
rate hike on Feb. 2, further evidence of an economy bursting at the seams
unleashed a storm of buying Friday, as an oversold market reacted with a
vengeance.
The rotation continues
The rotation out of tech continued Thursday, as monies moved into everything-but-tech.
Whipsaw Wednesday
Thanks to defensive buying of the healthcares, utilities, and oils, the list was positive Wednesday, as was the Dow.
Stocks pummeled
With the good
news on Y2K already discounted during the last millennium, and with
bond yields north of 6.5%, stocks were pummeled Tuesday.
New millennium, old tune
New millennium,
old tune. Outside of tech, nothing moved…except
down.
Charts don’t lie
There are many advantages to relying on charts for a sense of general market
direction.
An oversold market reacts
Green everywhere
to be seen. With bargain-hunters out in force,
stocks capped a blowout year on an upnote Friday, ending the millennium with a
lot of plus signs.
A mundane session
Profit-taking kicked in Thursday in a session characterized by the second-lightest activity on the New York Stock Exchange in the past four months.