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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%