Friday, May 27, 2005

 

Weekly Update: Long In the Tooth?

This makes four up weeks in a row for the
GTI, with a cumulative gain of 12%. Until
today's smallish loss, the GTI had finished
in the black nine times in ten sessions.
It has beaten the NASDAQ in each of the
last four weeks.

Does this mean the rally is long in the tooth,
that we must now expect a "correction"?

I think not. Certainly after four straight
weekly gains a weekly loss becomes more
likely. But the news seems all good. The
feared slowdown has not materialized.
And the GTI is today no higher than it was
a year and a half ago. There is plenty of
room to the upside.

Now if you want to see a streak that is
long in the tooth, look at the New York
Yankees. They've won 15 of their last 17
games. Just wait until they meet the
Red Sox in their three-game series at
Yankee Stadium this weekend.

 

Gilder Technology Index (GTI):  + 1.9%
Nasdaq Composite Index (NSD):  + 1.4%
S&P 500 Index (S&P):  + 0.8%

 

Week in Review: Another good week. For all
the Zen-like nonchalance I've developed
over the last five years, an up market still
makes me giddy.