The Return Of The Nasdaq

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In what was surely one of the quietest rallies in recent memory, the Nasdaq Composite (^IXIC:Nasdaq) has bounced back from its recent low of 3164.55 on May 23rd to 4246.18 this past Friday. It's a rally of 34%, that helped our portfolio retain an incredible 147% return. So much for the correction, right?

Well not exactly, because the stocks driving up the Nasdaq have changed. Dot-coms have been destroyed, any company that is not a first-tier internet play has seen their stock unceremoniously dropped and battered to the single digits. The companies behind the recent rally in the Nasdaq have been the ones with solid fundamentals. The buzzword of the moment? P-2-P (Path to profitability). Investors are no longer fooled by the "spend big" mentality of recent start-ups to capture market share.