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.

 

Home

Write to us at: (address is not clickable)

8/2/04
Dick Sears: Weekly Commentary
Curb Your Enthusiasm

After four bad weeks, we had a good one.

As optimistic as I usually am, and as rosy as I believe the future is, it seems much too soon to celebrate. Had I a day job, I'd not quit it.

The market had lost so much that a bounce was inevitable rather than convincing. And it wasn't all that good a week anyway.

And yet, here I am making a capitulation speech, which is said to mark the bottom.

As if. Remember how often we capitulated after the crash of 2000? Did it ever help?

No, as always the market will do whatever it wants, and it probably won't be pretty.

Unless it pleasantly surprises us. Remember, you heard it here first.

Returns for Week Ended July 30
Gilder Technology Index (GTI): + 3.1%
Nasdaq Composite Index (NSD): + 2.1%
S&P 500 Index (S&P): + 1.4%