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I remember the Nasdaq crossing 6K back in 2000 during intraday trading, but it didn't close that high. The 5200, if accurate, probably reflects the end of the day high.
If we went from 6000 during an insane tech bull run to achieving a high figure during the next 6-7 years of less than half that, I'm not sure that's an indication of the stocks being undervalued. It sounds more like a correction to me. Technology stocks will definitely play a major role in the future, but I agree that you should stick with the big boys unless you really know a company's direction.
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