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NOVEMBER 17, 2000 VOL. 26 NO. 45 | SEARCH ASIAWEEK

A Dead-Tech Bounce?
Some stocks in the Asiaweek/CNN Internet Index are showing signs of life, but a lasting recovery is far from certain

Take a look at that uptick at the end of the chartline for the Asiaweek/CNN Internet. Does that look like the beginning of a recovery to you? Don't bet on it. The short-term direction of Nasdaq and our Index depends heavily on the tightly contested U.S. presidential election, and probably even more on whether the U.S. economy will slump into a long-overdue recession early next year. Analysts are warning the modest tech rebound of late could be a classic dead-cat bounce.

Still, tech stocks have been so oversold it's hard not to welcome any lifesign. After falling below the 100-point level for the first time in 15 months on Oct. 31, the Index rallied by more than 10% in the first days of November. Some truly brutalized shares, like those of Chinese portal Netease, have gained more than 40% in the last 30 days. Considering Netease stock is still 58% below its July 1 price, it's no cause for a party.


Been Down So Long....

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