Monday, November 25, 2013

NASDAQ 4,000

I imagine that NASDAQ will finally pop above the 4,000 level sometime today, maybe even right at the open since NASDAQ is less than nine points away from 4,000, at 3,991.65 . Whether it closes above 4,000 and actually stays closed above 4,000 for more than a few days or weeks remains to be seen. NASDAQ 4,000 won't be a historic event though, since NASDAQ rose above 4,000 in late December 1999 and last saw 4,000 back in September 2000. As the saying goes, it's been awhile.
The remaining question is whether the push above 4,000 will be led and sustained by the large-cap stocks, or the smaller cap stocks that have been getting a lot of inflows this year.
As a minor note, Twitter (TWTR) can't help (or hurt) NASDAQ on its push through 4,000 – since it is a NYSE stock. But Facebook (FB) can and has an excellent opportunity to regain a little of the luster it lost as Twitter's stock began to come onto the scene.
A lot of the formerly hot Internet stocks that did so well this year will also be watched closely. Some are still near their highs, but quite a few have seen profit taking in recent weeks.
Hey, maybe even Tesla (TSLA) will see a bounce after its recent sharp decline (which I bought into.) NASDAQ 4,000 – as they say, with or without you.

-- Jack Krupansky


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