How Many
Times 1999?
By Duru
April 6,
2005
OK. Will someone tell me how many times we have
to sit here and watch this manic market play footsies with the 1999/2000 psychological
barrier? On a day where the NASDAQ
nailed the 1999 line right on the dot, I find it fitting to provide to you the
following statistics (good as of today):
All the
following statistics refer to the number of times the NASDAQ hit the 1999 level
at least once during the trading day.
|
All
History |
72 |
|
Before
March 20, 2000 |
12 |
|
Between
March 21, 2000 to Oct 31, 2002 |
23 |
|
Between
Nov 1, 2002 to today |
37 |
|
2003 |
4 |
|
2004 |
23 |
|
2005
(year-to-date) |
10 |
As you can
see, the Nazz spent much of last year fooling around,
and we are only 25% through this year and have already reached near 50% of last
year's levels of maddening churn. Also
notice that nearly half of all the time the Nazz has
spent around 1999 has been in the last 15 to 16 months. Finally during rally times --- the run to bubbledom in 2000 and the big run in 2003 --- the Nazz spent very little time messing around. You get the drift? I strongly suspect that we are in for many
more moons of churn this year. Ugh…