Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 259.21

-4.0%

Dec 12 9:30 AM EST

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To: LemurHouse who wrote (43982)	3/19/2001 6:50:59 PM
From: advocatedevil	of 70976

RE: "What's your thinking re the rally today? Short covering before the fed?" It must have been due to Bush pronouncing he's now "very confident" about the economy! But wait, didn't he just give us a warning on the economy? Perhaps we should call this a V-shaped executive opinion reversal? (I guess GW's advisors got the message across to him that it may not be wise to talk down the economy when the whole world is watching). Actually, I think that short covering did play a role in today's move (folks covering and moving to the sidelines ahead of tomorrow's uncertainty). Last week's record point slide probably brought in a few from the sidelines. Perhaps the huge surge in negative press (about the market declines) we've seen over the past few days prompted additional contrarian bottom-fishers to nibble. I expect there were also some folks willing to buy at a perceived low with the hope that the rate cut will prompt a rally, and if not, well, that's OK, we're close enough to a bottom, right? Whatever the reason, I'm not buying it quite yet. AdvocateDevil

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