Forum Archive Index - April 2000

["Ben Dutton" <bendutton@sharechat.co.nz>]

It is a strange one - as I write the Nasdaq is up 6.38% and TheStreet.com
Internet Index up 14.39%.

I'd be interested to know how much "real money" (eg. not margin trading) is
driving the market up.  If this is another momentum rally, I think you may
be right Nick.  However, if the big mutual funds are once again buying techs
we may see a sustained rally.

This definitely has gone beyond a "dead cat bounce".

Interesting stuff.

Benjamin Dutton


----- Original Message -----
From: nick <acummin@es.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Wednesday, April 19, 2000 5:55 AM
Subject: [sharechat] Wall streets a worry...


>        I looked upon the correction as very positive, the nasdaq
> was way to high. I was happy to see it drop even if my long term
> nz stocks temporarily fell too.
>       Now i cannot believe what is happening. It looks like the nasdaq
> is having its two best days ever in terms of % gain.
>  Maybe investors should of panicked!!.
>      I was expecting investors to be to scared to dive back in, they are
> either very foolish or last weeks correction was just a blip.
>      However i cant believe the p.e ratios on the nasdaq can be justified,
> and another big scare must be round the corner, surely?
>
>
>
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