ERNI Slides with Market

The NASDAQ composite is going for its eight straight decline in a row today. Not surprisingly, the Edwards Real Nanotech Index (ERNI) is sliding with it. As of last Friday, ERNI was still above its initiation level (100) established on February 17th of this year. Meanwhile, the NASDAQ and Dow Jones have both wiped out all of their gains for the year. So neutral ain’t all that bad. Still, what can we expect going forward? Nothing very good is my prediction. If you’ve only been watching the U.S., you might think that the market's free-fall is some sort of nasty correction we’re having in an otherwise bull market. An over-reaction to a Bernanke quote, maybe. But if you have been looking overseas, you will realize that the U.S. is now caught up in a liquidity crisis that began in Asia and has now seized the whole world. I will try to post something more definitive on this in the near future. But things don't look good right now for small techy stocks, like the ones represented by ERNI.


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