
A couple things to consider here:
Back in 1992 the Qs were $ 7.60 (who said buy and hold didn't work?), so a .28 decline meant a lot more than the current situation, where the price is 7 times higher.
On the other hand, the declines in 2000 look breathtaking until you consider than the Qs were trading for $84 on that Oct 1st.
(1993 -$9, 1994 -$10, 1995 -$14.60, 1996 -$18.65, 1997 -$28, 1998 -$32, 1999 -$60, 2000 -$84, 2001 -$29, 2002-$21, etc . . . )
Regardless of which data set we consider, the developing data field for this year is unique in the outright strength of the Qs. Whether 2007 will be a redux of 1999 remains to be seen, but recent trading has shown that the majority of pullbacks have been treated as buying opportunities and until that pattern reverses I regard the Qs as the most attractive of the major indicies.
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