Word: nasdaq
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Dates: during 2000-2009
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...markets are handling the ongoing non-election pretty well. Since taking a deep dip Monday that had Bush surrogate-in-chief James Baker invoking "instability" as a reason to stop the re-recounting in Florida, both the Dow and NASDAQ have been going about their bargain-hunting unperturbed by the legal and political quagmires in the Sunshine State. Both indexes posted steep three-digit gains Tuesday. On Wednesday the buyback continued - apparently some investors see an end to the Florida mess by next week...
...markets are handling the ongoing non-election pretty well. Since taking a deep dip Monday that had Bush surrogate-in-chief James Baker invoking "instability" as a reason to stop the re-recounting in Florida, both the Dow and NASDAQ have been going about their bargain-hunting unperturbed by the legal and political quagmires in the Sunshine State. Both indexes posted steep three-digit gains Tuesday. On Wednesday the buyback continued - apparently some investors see an end to the Florida mess by next week...
...Look at the chart - this has been on the horizon for a while. From the March peak of 5132 to Friday's close of 3029, the general direction of the NASDAQ graph - what's called the trend line - is a consistent downward slope. It's tested its low of 3026 several times, in May, in October, and last week, and, as technical analysts like to say, "there's no such thing as a quadruple bottom." When the trend line hits the floor, the floor gives way. Then the floor turns into the ceiling...
...Monday, both indexes were ailing; by lunchtime, the Dow was down 215 points to 10,386 and the NASDAQ down 158 to 2870. The Dow tends to be more responsive to political considerations; the tech index has plenty of its own troubles to worry about. A bad profit warning from Dow component and tech bellwether Hewlett Packard helped sellers in both indexes make up their minds Monday, but it's generally agreed that the dawning of another week of election madness is starting to be a big part of the problem across the board...
...Before the election, everybody wondered if the choppy markets would signal to voters the end of the Clinton-Gore boom. Now that NASDAQ is in a whole new bearish paradigm, with no numerical reason to stop falling, will the politicians take notice...