ISDEX Rides Market Moods Down Then Up
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The wild mood swings today in the market first saw the ISDEX drop to the five and teens before gaining steam in a late-trading rally that pushes the bellwether index up 4% to 571.78.
It helps that the overall market rebounds slightly as the past few day's of techno-phobia especially abate.
I think we could see continued optimism fueling these stocks on relative valuation basis primarily, given the recent string of selloffs that pushed values down to recent lows for some of the market leaders including AOL (NYSE:AOL), Yahoo (NASDAQ:YHOO), eBay (NASDAQ:EBAY) and Amazon (NASDAQ:AMZN).
While not the huge triple digit runs of some Internet IPOs, this looks like a healthier aftermarket in my view.
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