Tuesday, November 26, 2013

NASDAQ 4,000 - What's next?

Okay, NASDAQ finally reclaimed the 4,000 level on a closing basis (at 4,017.75) for the first time since September 8, 2000. A dog's age, quite literally. What's next? That's easy: Make it through the rest of this week and see if the 4,000 closing level sticks on Monday and through next week.
 
In fact, I wouldn't get too attached to the 4,000 level until we close above 4,150 for at least two weeks.
 
Where is all of this headed? Hard to say. It would be better for us all to have a "go slow" trajectory for an extended period of time, but Wall Street doesn't like to work that way – an endless cycle of boom and bust is more the speed of the average denizen of Wall Street.
 
Still, it is interesting that we made it this far.
 
Oh, and my sincere condolences to all of those poor unfortunate souls who dumped all of their stocks at the bottom in 2009 and never got back in and have missed the entire recovery while waiting in low-interest bonds.

-- Jack Krupansky

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