We were off to a great start with the index hitting 1437.20 at the end of April. Then, as the broader markets retreated in the summer months, the index saw an August close of 855.80.
It is presently standing back in the 1400+ territory as we approach year end. Where will the index be a year from now? Will it reach pass the 2000 mark in the year 2000? I think so.
The reason I believe that this will happen is because the companies which comprise the index, especially the top four which account for 80% of the value of the index, are all in great shape with excellent prospects for growth. These four companies, led by Ballard Power Systems include PMC-Sierra Inc., QLT Phototherapeutics Inc., and Sierra Systems Group Inc.
Investors are warming up to the technology sector while at the same time leading economic indicators would lead one to believe that the bull market will steam ahead.
If we see 2000 a year from now, we'll have double
the reason for a hearty celebration!