Even rising interest rates seems to be largely factored into the equation and are of little help in moderating the tech stock rally. Only a really harsh new fear will be able to push back the bulls. The fed flooded the markets with the largest increase ever in the M3 money supply in November-December and that had the opposite effect of raising the interest rate. The markets soared. Last but not least, our economy is red hot with few signs of peaking, boding well for US corporate profits in 2000.
Blue skies rule.
The Nasdaq wants to correct itself but can't right now, so look for huge volatility and a trading range. If you're a wannabe long-term hold investor, wait a few months for the big Kahuna correction to lower valuations. It will come with the right catalyst. If you're a stock trader, you're in pig heaven. This is as good as it gets.