Happy Anniversary, NASDAQ

Published: March 9, 2008, 7:10 am

Tags: aapl, apple computer, goog, google, nasdaq, recession, research in motion, rim, rimm

Filed under: Google (GOOG), Apple Inc (AAPL), Research in Motion (RIMM), Technology, NASDAQMonday marks the 8th anniversary of the NASDAQ reaching its' all time high. I remember the day quite clearly as it was a Friday and I got married on that Sunday. From March 10th 2000 to early Oct. 2002, the NASDAQ dropped about 78%, even with a bit of a comeback over the last five years, the index is still sitting over 55% under the all time high. In fact since the recent high at the end of October, the index has shed more than 22%. What does all this mean? While we may not see a return to all-time NASDAQ highs for another decade, the index has again gotten very cheap. It could be that the index is setting up for a move to the upside. After all, this past Friday, the NASDAQ easily outperformed the DOW, and I think we are going to start seeing a rotation into technology names. Tech earnings haven't been to bad. All the pundits will say that with a recession, tech spending will get cut. Go into

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