Market Guru Marc Faber feels Nasdaq100 has upside potential
We had the dot.com boom 10-15 years ago and now we have seen a sort of resurgence in interest in technology, people are actually making money with the net business proposition, do you think it is here to stay?
Yes, I think so but I have to point out that I am not positive about technology from a fundamental or long-term point of view. I think what we have in the market is a strong group rotation at present and we have a lot of momentum playing.
The most attractive sector of the market right now, technically speaking, is the Nasdaq 100, which looks like it will break out on the upside and it is also the Index that has performed the poorest so far this year. So I would look at that as a trading opportunity. But as I said, I wouldn't now have a very high level of confidence in anything and that's why I am kind of standing on the sidelines for now.
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