Taking The Tech Sector Apart — Technically by Jayanthi Gopalakrishnan The recent downfall in technology stocks came as a shock to some traders. Here’s how you could have protected your profits. You would find that a picture is truly worth a thousand words if you were to glance at the chart of the Nasdaq Composite in Figure 1. The chart gives you the overall picture of the performance of the technology sector. From October 1999 to early March 2000, the Nasdaq enjoyed one of the greatest bull rides in history. During this period, traders and investors were heavily invested in the technology sector, which showed brightly promising returns. It seemed as if each day during that period, a new millionaire emerged onto the scene. Those who weren’t invested in the stock market were given the impression that if they didn’t get in the stock market now they would miss the opportunity of a lifetime. But it just took two weeks in early to mid-April for all this optimism to come to a shocking and, for some, painful halt. |
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