Nasdaq drops 113.06 points

[jamesglewisf]

The Nasdaq composite index dropped more than 100 points to its lowest level in four months today. Oracle led the way by losing 10% of its value.

What do you think is going to happen to the tech stocks? Will they recover again? The word on the street is that since chip supplies are so low, the computer and electronics companies are going to have low inventories just in time for Christmas, their biggest part of the year. That cannot be good for the Nasdaq. We'll see!

I don't even own any stocks, but don't I sound like an expert? LOL!

Does anybody out there own any tech stocks? Are you worried?

[jamesglewisf]

Computer Associates just warned that its second quarter earnings will be below analyst expectations. They waited till after the market closed today to do it, so watch for their stock to take a hit tomorrow. That will probably send the market down even more.

Computer Associates is a very large software development company.

[jamesglewisf]

In cased you missed it, Oracle is the company that competes with Microsoft to be the largest software company in the world.

[RoadRunner]

Don't quit your day job yet. It looks like the NASDAQ is better today.

[RoadRunner]

Maybe you can quit your day job. Dell gave a bad report and the NASDAQ dropped 51.44 points. The NASDAQ has dropped 9 out of the past 11 days.

[RoadRunner]

Wow, it dropped another 111.06 points today. Look at this quote from CNNfN (http://cnnfn.cnn.com/2000/10/06/markets/markets_newyork/)."I think the market has a preoccupation with earnings," Milton Ezrati, senior economic strategist at Lord Abbett & Co., told CNNfn's market coverage.

Imagine that--investors preoccupied with the companies they invest in making a profit. What has this world come to?

[RoadRunner]

The NASDAQ dropped another 115.02 points today. CNNfn (http://cnnfn.cnn.com/2000/10/10/markets/markets_newyork/) says it is off 20% this year.

[jamesglewisf]

The NASDAQ continues to drop. Today it lost 93.91 points.

The Dow had its fifth largest point drop of all time (-379.21).

[jamesglewisf]

Hey, the NASDAQ rebounded Friday as bargain hunters pushed the index up 242.09 points.

[jamesglewisf]

Yikes. The NASDAQ dropped 190.22 to 3,229.57. Investors dumped fiber-optic and computer-networking stocks after Nortel posted disappointing sales.

Nortel has a huge complex across the street from my office in the Richardson Telecom Corridor.

[jamesglewisf]

WOW! The NASDAQ is now at 2,875.64. That is the lowest close since October 28, 1999!

[jamesglewisf]

Man oh man. The NASDAQ tumbled 5.05% yesterday to 2734.98. Ouch!

Let's hope this correction continues, and we get the price-to-earnings ratios back in line with reality.

[jamesglewisf]

The NASDAQ fell 109.00 today to 2,597.93. That's a 4.03% drop. How low can you go?

[jamesglewisf]

Wow, Microsoft just announced yesterday that it would miss estimates for the first time in 10 years.

The markets took a hit because of it:

DOW: Down 240.03 to 10,434.96 (-2.25%)
NASDAQ: Down 75.24 to 2,653.27 (-2.67%)

[Adam]

Well the markets are in turbulently times. Many dot-com casualties are coming up. Some stocks had hundreds of points and plumetted to 30-40.

[RoadRunner]

Investors are unloading technology stocks this afternoon.

The Dow is down (-157.73) to 10733.29 (-1.45%).
The Nasdaq is down (-148.17) to 2404.74 (-5.80%).

We'll see if it can recover before the close, but I doubt it. Everytime I check back it is down a little more.

[RoadRunner]

http://www.cnn.com reporting:A tech sell-off hammered Wall Street today, sending the Nasdaq down more than 6 percent for its first close below 2,000 since 1998. The Dow tumbled more than 4 percent to its lowest close since October 2000. Or try http://cnnfn.cnn.com/2001/03/12/markets/markets_newyork/ According to preliminary figures, the Nasdaq fell 128.28 points, or more than 6 percent, to 1,924.50, for its first close below 2,000 since Dec. 14, 1998.

The Dow Jones industrial average tumbled 443.85, or more than 4 percent, to 10,210.71. That's the lowest close since October 2000.

The S&P 500 skidded 53.51 to 1,180.13. The index is 22.7 percent below its March peak of 1,527, under the 20 percent drop that Wall Street deems a bear market.I'm glad I'm not in the stock market today. So, the big question is will it fall more tomorrow?

[RoadRunner]

I thought that I might as well give one last stock report before everything is gone.

At 12:41PM today--

The NASDAQ is down 41.45 to 1,899.26
The DOW is down 98.31 to 9,932.97
The S&P 500 is down 15.13 to 1,158.43

YIKES!!