America On-Line: will it survive ...? Message Board

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Technology Stocks : America On-Line: will it survive ...?

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To: Bald Man from Mars who wrote (8037)	2/20/1998 5:52:00 PM
From: Pancho Villa	Read Replies (1) of 13594

>>*You think this market will tank ???<< It eventually will. I don't know when though. There is talk of the FED cutting rates. This combined with the bullish sentiment and people being so short sighted [they don't believe until they see], they will react to the lower interest rates by bidding up stock prices, wrongly assuming that earnings growth expectations will remain intact since the Asian crisis is either not real, or it will not affect us, etc. etc. etc [King and I style]. Then reality will set in: companies will start either missing or lowering earnings expectations and then the market may tank in April. However you never know. First call may just drastically cut the numbers soon, the market will tank a bit as the bulls wait to see if this materializes. Then when companies beat the ridiculously low First Call numbers we have a hell of a rally that takes the DOW over 10,000. Any intelligent defender of investor intelligence [market efficiency] would tell you investors cannot be tricked in such a stupid manner, well, after what I have seen since last Octaber I don't know. IMO very few people put any time into reading boring 10Q/K fillings. I guess the numbers in these are so massaged that they just don't care! Pancho PS: need to go back and read the dam 10Q. I only glanced at the statements in the previous post. Pancho

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