OT: P&G put out some some strong expectations and the dow benefitted...The Naz index is likely a follower because many of the tech followers can still remember the drops of 2000 to 2001...Although many were from over-priced valuations they are still remembered in the context as a whole group...Those valuation distortions do not seem to appear currently in the majority of companies...That does not rule out fluctuating prices...One opinion only here and as always it could be off the mark...LJ
"It looks like the NASDAQ is at the same level it was 1 year ago."
A lot longer ago than that! As I posted yesterday, here is the Nas 3 year chart. You can see that the Nasdaq was higher in January, 2004 than it is today!
My quote was "The NAS, at this minute, is almost exactly where it was in January, 2004 - about 2.5 years ago! What that means is that if you invested in the Q's in October 2002, that 100% of your +95% gains would have been made by January of 2004. The rest of this "cyclical bull" market would not have made you a cent. Undoubtedly, with time and trading costs, you would have (on average) lost a good deal of money in the past 2.5 years."
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