RE: want to know why? because you apparently are listening to the analysts & cnbc and are without doubt being mislead. dont let Greenspan lead you either. Anything he does is not good for the market & is either past due, or blaintant lie. Learn to realize that when you have this many companies going down & bk in this nation and the whole world economy suffering to the point that major nations have all reduced interest rates and dont forget the enron's, Kmarts, the airlines, security costs, war, and all kinds of chaos that is taking place. this will drag out for a LONG LONG time, so save your cash and buy these big caps when they break year lows only... if then. Throw all analysts speculations away as if they never existed and you will be on the track to a good investor. use your sense as to what is really happening out there! Dont be mis lead... too many people are lead like sheeps led to slaughter. I was one myself until I learned the hard way. IMO
I find it very interesting that many of the NAZ stocks are below 9/11 levels, but the QQQ is 25% above its low of $28 on 9/11. So perhaps investors/trades are willing to buy the QQQ since it doesn't have individual stock risk associated with it and you don't have to worry about Enronitis...what do you think?
The semiconductor stocks are keeping the Nasdaq and QQQ propped up. When the semis' excessively good performance since 9/11 is backed out of the Nasdaq, it looks like the Nasdaq would be approaching 1500.
'Everybody' has 'learned' about the chip (semiconductor) cycle (buy when the chip PE's stink, sell when the chip PE's are terrific), so the beginners think they can just blindly buy the chips without regard to the stocks' long term valuations.
The fools will learn once again that once the whole market 'knows' something, the something will no longer work.
Started shorting the semis (SMH and AMAT) last week. Just bought my first 1000 JNPR in AH friday.