The joke aside what do you 'objectively' think of NDX/QQQQ/NQ? Looks to me like it wants to (unreasonably but that's my subjective view speaking) go much higher.
well when oil crashed a lot of people looked around and said "shoot lets jus ride goog back up to 515.00, bidu 128.00, etc" that was the thought by the oil money, but the problem is they got to go against the fact that the dow, snp are over-extended and starting to roll over here, and they lost a lot of those earler nasdaq gains, my take, they tried to ride the nasdaq up, but even though it had come back some, it still had one heck of a move up from late july to dec., and the pe ratios of the nasdaq stocks are quite high right now, relatively speaking, and the nasdaq isn`t going anywhere longer term, without the dow/snp--it pulled the dow off its lows for 1 day, and then reality set in the next day, all these indices are over-extended and ripe for a strong pull-back here, so that oil money will have to find another place, because it isn`t going into the nasdaq long term, as mot--made tht abundantly clear--too many tech/commodity companies fighting over the same scraps/pie in a slower growth environment---so nasdaq after that initial break up against the down-trend will be following suit and rolling over here with the down/snp500 as earnings come in-----after all, razor was big one year, a commodity the next, same thing for apple products, rimm will be next, flat panels will be commodities, computers, etc.---lowered magins to compete in a slower growth environment, means lower profits, lower stock prices for nasdaq stocks-----as people start to lose money, the liquidity tightens, less money to just throw around, safe-conservative capital preserving plays become the natural place the extra-new money will go---not tech.---the year was early, people were scrambling around looking for places to put money, they tried tech, got burned/will get further burned as earnings flow out showing these tech guys are over-valued here, and will try something else
