NASDAQ: NOT DEAD YET; Mad bull crossing.(Brief Article)(Statistical Data Included)

Pensions & Investments, April, 2001 by Burr, Barry B.

``Has Nasdaq mad-bull disease leaped the species barrier?'' wonders Donald G. M. Coxe. The chairman and chief strategist for Harris Investment Management Inc., Chicago, worries that the plunge of Nasdaq, down 62% from its peak, is infecting the broader market and could result in an historic bear market.

The Standard & Poor's 500 stock index is down 24% from its peak, ``not because of a collapse of old-economy stocks, but because of the gigantic exposure it had to technology stocks, he said.'' But in recent weeks the S&P 500 ``has been hurt by stocks outside technology.'' Still, it isn't an all-out bear market yet, according to Mr. Coxe's classical view. The Dow Jones industrial average's recent plunge to close at 9389.48, or almost 20% below its peak,...

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