Nasdaq 100 lessons from 1998 ('some kind of extraordinary')

[NASDAQ MarketSite - Times Square]
hapabapa

The Nasdaq 100’s recent performance evokes summers at the end of the 1990s, according Goldman's Tony Pasquariello.

Pasquariello, head of hedge fund strategy at Goldman Sachs, highlights the recent monthly returns for the Nasdaq 100 (NDX [https://seekingalpha.com/symbol/NDX]) (NASDAQ:QQQ [https://seekingalpha.com/symbol/QQQ]): a 9% gain in May, 6.3% in June, 2.4% in July and 2.1% in August so far.

Tell me "if this chapter in the history book from 1998 rhymes with the present day: as US retail investors feasted on the potential of a newfound, if transcendent technology ... and with stocks near record highs ... a dose of macro turbulence prompted a series of rate cuts, starting in September," he said.

"Where I’m going here: what’s playing out in plain sight today is not unprecedented, but it is some form of extraordinary."

Coming "from someone who has seen some epic ups and downs over the past 26 years, at the very least we should be thankful for how good the getting has recently been," Pasquariello said.

MORE ON THE MARKETS

* Weekly Commentary: Another Week In Bizzaro Bubble World [https://seekingalpha.com/article/4814497-weekly-commentary-another-week-bizzaro-bubble-world]
* Weekly Market Pulse: Big Rate Cuts? Not Right Now [https://seekingalpha.com/article/4814448-weekly-market-pulse-big-rate-cuts-not-right-now]
* S&P 500: Investors Are Euphoric, I'm Cautious [https://seekingalpha.com/article/4814434-s-and-p-500-investors-are-euphoric-im-cautious]
* Retail traders are now critical force in U.S. equity markets: Goldman Sachs [https://seekingalpha.com/news/4486328-retail-traders-are-now-critical-force-in-u-s-equity-markets-goldman-sachs]