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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. |
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6/4/04
Weekly Commentary by
Dick Sears
A Change of
Fortune
Tuesday was bad enough, Wednesday was worse, and Thursday was a real stinker. We seemed headed back toward the abyss. The trend was not our friend.
But our fortunes changed. Optimism from Intel and a good jobs report triggered a Friday rally that almost made us whole.
Despite the rally's late weakness, I think the bull market may soon return. The New Economy (ring a bell?) didn't go away, it was just derailed. Now it has built up a new head of steam.
If you ask me, there are wonders ahead and fortunes to be made. I think we're all going to be allowed to have a second bite of the apple.
But what do I know?
Returns
for Week Ended June 4
Gilder Technology Index (GTI):
- 1.7%
Nasdaq
Composite Index (NSD): - 0.4%
S&P 500 Index (S&P): + 0.2%