This ‘stunning and shocking’ chart has one Wall Street strategist worried about the stock market’s next move
Last Updated: Sept. 23, 2020
By Shawn Langlois
Some of us are old enough to remember the maniacal buying that pushed tech stocks, many of them long since dead and gone, to nosebleed valuations back in the heady dot-com bubble days of 1999.
Is history repeating itself? Check out this chart, courtesy of Mott Capital’s Michael Kramer, comparing the Nasdaq-100 NDX back then to the same tech-heavy index today:
http://www.marketwatch.com/discover?stackid=fe6b42b00a6260236d1e496b0297b71e&siteid=nwham#https://www.marketwatch.com/amp/story/this-stunning-and-shocking-chart-has-one-wall-street-strategist-worried-about-the-stock-markets-next-move-11600874025?mod=dist_mw_email
“I found this to be stunning and shocking,” Kramer told investors in a blog post. “I hope this turns out to be wrong, by the way.” More than just the chart, the numbers he highlighted this week mirror of the action in 1999 almost exactly.
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