RE: My two centsI don't think things are that bad re the Nasdaq. Many tech stocks are still cheap. Some are overvalued but the stocks with poor business models ie internet stocks have already been punished. Some are still overvalued. Is UBS with pe of 70 still worth. Maybe. But look at Calian or ATY or GEAC, there's not much downside there. We have already corrected quite a bit in April and September.
Apple is now selling at a pe of 11 and price to sales of 1. And some companies are growing nicely, Micron in US and datamirror had a nice quarter lately.
We will see whether Nortel hits their target. That could be ugly if they miss.
Microsoft is at a 52 week low too. I see Nasdaq bottoming at 3,000 and rebounding to 4500 by year-end. Duncan Stewart of Teracap is predicting 6,000 for Nasdaq by March as a high and then a some sell off after that.