What a rough hazing
our initiation
into 2005 turned out to be.
Every day for five days the market
pulled the same nasty stunt, turning
an early gain into a loss at the close.
It's not supposed to be like this.
The early weeks of a new year are
usually good ones. But we got
clobbered.
Of the 27 GTI companies, only
Broadcom and the mighty Q were
up for the week. It was our worst
week in five months. We lost 40%
of what we had gained over the
previous eleven weeks.
Maybe the market is merely up to
one of its famous head fakes, where
it allows savvy traders to snap up
shares cheap before the bull
market resumes. Let's hope so.
If not, we're in for a long, hard year.
Returns for Week Ended
January 7
Gilder
Technology Index (GTI): - 6.7%
Nasdaq
Composite Index (NSD):
- 4.0%
S&P 500 Index (S&P): - 2.1%
Historical
Returns
|
|
GTI |
NSD |
S&P |
|
1997 (est'd) |
21% |
22% |
31% |
|
1998 (est'd) |
48% |
40% |
27% |
|
1999 |
284% |
86% |
20% |
|
2000 |
- 44% |
- 39% |
- 10% |
|
2001 |
- 43% |
- 21% |
- 13% |
|
2002 |
- 56% |
- 32% |
- 23% |
|
2003 |
130% |
50% |
26% |
|
2004 |
3% |
9% |
9% |
|
2005 to Date |
- 6.7% |
- 4.0% |
- 2.1% |
|
Avg for 8+ yrs |
9.8% |
6.2% |
6.0% |
|
Last 52 wks |
- 13% |
0% |
6% |
Since the high
of 3/06/00 |
- 80% |
- 59% |
- 22% |
Since the low
of 10/09/02 |
231% |
87% |
53% |
Makeup of the GTI
The GTI companies are those on the
list
of "Telecosm Technologies" in the Gilder
Technology Report, except that those
whose stock is not readily available to
individual investors are excluded. If a
company is not traded on the NYSE,
AMEX, or NASDAQ National Market,
it is not in the GTI.
This past week there were 27 companies
in the GTI. Advances vs. declines were:
2 up, 25 down, 0 unchanged.
For more Dick
Sears columns>>> |
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