|
04/29/05 Dick
Sears Weekly Update:
The Market Has Fallen and It Can't Get Up
We seem to have crashed into that
wall of
worry we were supposed to be climbing.
There's no end to the litany of potential
woes: inflation, slowdown, maybe even
stagflation, protectionism, legislative
impotence, over regulation, demographic
and economic implosion in Old Europe,
and who knows what else.
Here we are, with the year one-third over,
and the GTI sits deeply mired in the red.
Prime symptoms of the malaise are BWNG,
JDSU, LNOP, and PWER, all of which are
down between 50% and 60% for the year.
Bright spots are hard to find. Only GLW
has performed well. It is up 26% in the five
weeks since it rejoined the GTI.
As they say, this too shall pass. But it's
hard for us optimists to keep our chins
up. We can only take solace from the late
Friday rally, though most likely it was
merely a feint to keep us from giving up
on the market altogether.
Returns for Week Ended
April 29:
Gilder Technology Index (GTI):
- 1.1%
Nasdaq Composite
Index (NSD): - 0.5%
S&P 500 Index (S&P): + 0.4%
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 |
- 16.7% |
- 11.7% |
- 4.5% |
|
Avg for
8+ yrs |
7.9% |
4.9% |
5.5% |
|
Last 52
wks |
- 9% |
0% |
4% |
Since the
high
of 3/06/00 |
- 82% |
- 62% |
- 24% |
Since the
low
of 10/09/02 |
195% |
72% |
49% |
Makeup of
the GTI:
The GTI companies are those "Telecosm
Technologies" in the Gilder Technology
Report whose stock is readily available to
investors. 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 29
companies in
the GTI. Advances vs. declines were:
11 up, 18 down, 0 unchanged. |
(address is not clickable)