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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6/17/05
Dick Sears Weekly Update:  Another Quiet Week

We had another quiet week on Wall Street.
Quiet in the sense that after all the usual
daily shouting was over, nothing much
had changed.

What change there was went in the right
direction. For a couple of months now
we've been in stealth-rally mode. That's
where we put together modest wins and
hope Greenspan doesn't notice. You
know what a killjoy he is.

In the old days, when the GTI was young,
the stock market was a wilder and more
wooly place. Consider this chart of the
average weekly change in the GTI for
each year of its existence:

And look at the Hall of Fame, the record of
the GTI's best and worst weeks ever. It's
been over two years since a week was good
enough (or bad enough) to make the list.

I'm not complaining. Too many of those
strong moves were in the wrong direction.
They gave me a lot of sleepless nights, and
we old men need our sleep.

Returns for Week:
Gilder Technology Index (GTI):  + 1.3%
 Nasdaq Composite Index (NSD):  + 1.3%
S&P 500 Index (S&P):  + 1.6%