Word: nasdaq
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Dates: during 2000-2000
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...Being susceptible to both peer pressure and numbers that move (I have no idea what the NASDAQ is, but I can't stop watching it), I sneaked out to my polling place to get an even bigger dose of excitement...
...Especially when 50 percent of the former has a part of its daily wealth riding on the latter. The drift of the Dow and NASDAQ has been cited as a possible predictor, even a determining factor, of a national election meant to set a course for a full four years, which is quite a large sample of what used to be called the business cycle. Yet at election time, a voter can use the markets to sample his own heart; after all, every investor would prefer to vote with his broker's blessing...
...Suddenly everybody's a tech-stock bargain hunter as investors decided Tuesday they'd had enough of the blues and bought the NASDAQ up 177 points by the close. Cisco cleared its personal floor of $50 again, Oracle hit $34, and dot-commers Expedia and eToys got a few bonus points for losing less money than everybody expected. Is this the floor of floors...
...that the end of October - traditionally the month of earnings news, tax-loss selling by mutual funds and bottoms (not a coincidence) - a Dow afire for three straight sessions and an election about to conclude, and we've got indications that the 3,000 milestone may belong in NASDAQ's rearview mirror...
...bloodbaths, in which investors tear their hair out and run shrieking from the room. Traders insist that while there has been tech overselling this month - overselling that was drawing buyers Tuesday - it just doesn't feel like it's run its course. Not to mention that every one of NASDAQ's 5 percent days has been met with selling soon after...