|
|
|
|
 |
Daily Speculations The Web Site of Victor Niederhoffer & Laurel Kenner Dedicated to the scientific method, free markets, deflating ballyhoo, creating value, and laughter; a forum for us to use our meager abilities to make the world of specinvestments a better place. |
Write to us at:
(address is not clickable)
5/21/04
Weekly Commentary by
Dick Sears
Same Old, Same Old
This week was much like the one before: plenty of action on light volume, and in the end nothing to show for it, one way or the other.
There were tantalizing whiffs of succulent fruit, such as an early 40-point NASDAQ gain on Wednesday that suddenly went poof in the late afternoon. As the eponymous Tantalus kept discovering, the fruit was right there, it just wasn't quite reachable.
We'd probably best get used to being stuck in a range. Until the market can reconcile the many challenging and conflicting forces that beset it, how can we hope for a sustained rally?
Perhaps the market's even planning to stay home all summer and just take day trips. Let's hope not. Everyone needs a vacation from time to time. It doesn't have to fly us to the moon. A trip to the Rockies would suffice.
On a personal note, I hope we get off this dime. How long can I keep saying same old, same old?
Returns
for Week Ended May 21
Gilder Technology Index (GTI):
+ 0.5%
Nasdaq
Composite Index (NSD): + 0.4%
S&P 500 Index (S&P): - 0.2%