文章基本信息

标题：Back In A Bear Market? - Industry Trend or Event - Brief Article
作者：Mark A. Mowrey
期刊名称：The Industry Standard
印刷版ISSN：1098-9196
出版年度：2000
卷号：August 14, 2000
出版社：IDG Communications

Back In A Bear Market? - Industry Trend or Event - Brief Article

Mark A. Mowrey

The Nasdaq Composite index closed the week up 3.4 percent at 3787. On Thursday it reached a nine-week low of of 3521 - down 20 percent from its July 17 high of 4275 - which triggered concerns that the tech sector is slipping into a bear market. It didn't help the bulls when strategists like Bill Meehan at securities firm Cantor Fitzgerald urged investors to "use rallies as opportunities to lighten up ... especially in the tech sector."

But is the Nasdaq suffering from a bear attack, or just more volatility? The Nasdaq, considered the benchmark tech index, has bounced erratically all year between a low of 3165 set May 23 and July's high.

Signs of earnings growth from companies in the second quarter sparked a 35-percent run in the Nasdaq above May's low - but those gains crumbled in late July, and the index closed the month down 0.5 percent.

Skittishness will remain the norm until a catalyst - such as fall-season retail sales or a clear election outcome - gives investors renewed confidence.