NASDAQ 100 Is Up 14% of the Year and the S&P 100 Is Down 2.5% of the Year

Liz Young: Guy, I really do believe there's going to be a bloodletting in the equity market. The NASDAQ 100 is up 14% of the year and the S&P is up 2.5%. Tech has been a beneficiary but when valuations matter so many of these stocks went from being reasonably value to expensive once again. LZ: There was just a flight to these high growth high valuation technologies names that typically do well in falling interest rate environments now. It doesn't make sense on one hand but on the other hand in a world driven by computer generated algorithmic generated headline generated buying and sell orders.

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