Leaders of the Nasdaq's rally in the past year have been American Airlines, up 109.3 percent; Electronics Arts, up 107.5 percent; Avago Technologies, up 91.6 percent; Keurig Green Mountain, up 80.7 percent, and Illumina, up 71.7 percent.
Since the Nasdaq peaked in 2000, its stocks that have gained the most are Monster Beverage, up 41,000 percent; Keurig Green Mountain, up 34,000 percent; Tractor Supply, up 6,993 percent, and Gilead up more than 4,200 percent.
Apple is up more than 2,400 percent, but Microsoft, a leader during the tech bubble, remains 6 percent below its March 2000 high. Intel is 38 percent below its March 2000 high, and Cisco is 58 percent below. The Nasdaq hit bottom in October 2002 at 1,139, a decline of 77 percent from the 2000 high.
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"I think Nasdaq is still the premier market for the U.S. because it's a showcase for technology and biotechnology companies. So I think if we have the healthy expansion that we're envisioning. In a reflationary world, tech and biotech do really well," said Lee.
Stocks on Monday were mixed, with the Dow taking a break from an eight-session winning streak. It lost 15 points to 18,038. The other indexes were higher and the Dow utilities and Russell 2000 both set new highs.
Some strategists are concerned the market's December gains are stealing from next year, and January could be a rough month as a result.
Lee disagrees. "I think we're going to start the year really strong. I know there's a lot of headwinds. There's oil and the capex implications of that. There's Europe and now we have this Greek election," said Lee. "I think they're not big enough headwinds to offset the positives. We've got really good labor market momentum. Consumer spending is really, really strong, and there's some comfort that the Fed is still going to be really supportive of the markets."
As for economic data Tuesday, traders are watching S&P/Case-Shiller home prices at 9 a.m. ET and consumer confidence at 10 a.m.
Traders are also watching oil prices. Energy stocks gained 0.3 percent even though oil futures declined.
Oil prices Monday fell to a new five-year low. West Texas Intermediate crude futures for February fell 2.1 percent to $53.61 per barrel. Brent was also sharply lower, despite an initial rally on concerns more supply will be disrupted from Libya.