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Politics : Formerly About Applied Materials
AMAT 261.90+0.4%Dec 26 9:30 AM EST

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To: michael97123 who wrote (42004)2/10/2001 1:20:21 PM
From: advocatedevil   of 70976
 
Mike, Recession or not, it's an uncomfortable time. In my world, we're discussing the latest PG&E energy bills (gas rates doubled here in January), worthless employee stock options, layoffs, hiring freezes, wage freezes, Christmas credit card bills, and of course portfolio valuations... all real world issues. We're not discussing buying new computers and electronic equipment. I think these and related factors are clearly being reflected in recent consumer sentiment indicators falling out of bed. I believe many of us are frozen like deer in the headlights of a truck. Spending is on hold until further notice. This type of concern doesn't change overnight and often makes the problem a bit worse.

Now, take a look at investor sentiment. If I recall correctly, bulls outnumbered bears by something like 56 to 14 in a recent survey. This indicates to me that real pain has not set in yet and we have more to go on the downside before we turn this ship around.

AdvocateDevil
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