Hey, if the NASDAQ can party like it's 1999, why shouldn't you?
In the last year of the 1900s, the NASDAQ Composite Index rocketed up 85.6%. Most of that happened in last quarter of the year, when the index was up over 50%.
(Related: Demand for luxury residences goes sky-high in New York)
But it's the first seven months of this year that has people wondering if we'll see a repeat of that bull run. From January 4, 1999 to August 5, 1999, the index was up 20.3%. And, sure enough, from January 4, 2013 to August 5, 2013, the NASDAQ is up 22.3%.
Driving the excitement back in '99 was that new-fangled invention called the Internet. And, helping to drive the NASDAQ index now is that old-fangled invention called the Internet. Stocks like Facebook ( 43% year to date), Yelp ( 176% year to date), and Angie's List ( 94% year-to-date) are making headlines and getting investors to buy stocks with short track records and no physical products.
But, we know how the NASDAQ party of 1999 ended: A miserable 2000, where the index fell nearly 40%.
So, is this time different?
Talking Numbers contributors Enis Taner, Global Macro Editor at RiskReversal.com, and Richard Ross, Global Technical Strategist at Auerbach Grayson, take a look at the fundamentals and technicals of the NASDAQ Index what's next in tech.
To hear Taner and Ross analyze the NASDAQ, watch the video above.