Forum Archive Index - October 2001

[jesse <johne777@hotmail.com>]

Hi Nick
there are still warnings coming in like Nortel (NT) and Corning (GTW)
but more companies are finally lowering earnings expectations so are
able to 'meet' rather than 'lower' guidance.

The class of '99 still dont get it though.......most 4 letter stocks are
going to single digits or bankruptcy sooner or later...doesnt matter how
much liquidity Mr Greenspan pumps into the system because their earnings
expectations will never be realised. I'm surprised Amazon is still
going. It's probably worth US$2. It's getting there. There are 2 titans
left which havent fallen in line with their peers. Microsoft and IBM.
When they tank, I think a Nasdaq low will be reached on which a base can
be formed. Until then, the insanity continues and  these bear market
rallies are setting up nice shortable positions.

When you consider that US indexes took 3 months to find a bottom after
Iraq invaded Kuwait, and took 18 months to regain the lost ground, it is
just crazy that the Dow and Nasdaq are now higher than they were just
one day after Sep11....in only 14 sessions!!

New lows are a given.
cheers
jesse


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