The ISDEX Half-Time Report
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Looking at the Internet stock market on a month-to-month basis this year, it's no surprise that investors' nerves are jangled and their confidence frayed. It has been a rollicking ride through the first two quarters.
This is perfectly illustrated in the numbers generated by internet.com's Internet Stock Index, which is down 13.5% through June 30. There have been double-digit swings in four of the six months of trading through June. Here's how the ISDEX has performed each month through Q2:
Even placid-looking March was full of tumult, with a mid-month crash wiping out a 12% run-up in the first week of trading.
The challenge for Internet investors as the second half of the year gets under way is to sift through the rubble and separate the winners from the wannabes. With a number of market leaders among its ranks, I expect the ISDEX to post solid gains for Q3 and Q4. I also give it a decent shot to fully erase this year's losses and finish in the black.
Here's how the current ISDEX members performed through the first two quarters of 2000: