Nasdaq 100 Rally Shows the Bears Got Up Too Early
With the index now just a whisker away from a 52-week high after a 23% gain this year, it’s clear that the pessimists were premature. And they might still be.
Not so scary yet.
Photographer: William Vanderson/Hulton Archive/Getty Images
The US stock market doomsayers may yet be vindicated, but the performance of the Nasdaq 100 Index this year shows why timing is just as important as being right.
While the Cassandras have been metaphorically hoarding canned goods and digging nuclear bunkers in preparation for economic Armageddon, the Nasdaq 100 has notched a 23% return this year and is now within spitting distance of a 52-week high. No one’s guaranteeing that’s sustainable, but it should lead to some soul-searching among those who have been warning of sharp declines.