| Sorry but I disagree. Tech will rise again in '02. Probably Q2 or later '02. Anyone looking for the old highs on many issues are in dreamland. A double from these levels are great in a year or two,, but looking for csco or LU to see the 60s in this decade or that all still standing is not a realistic view. Now those holding from much higher will be flushing at a loss or holding until death do they part... I'm still bullish on the mkt but believe the nas can still drop 15% without much trouble and the dow @ 9K seems easy from this level. There is nothing to prop the mkts up. AG has not been able to correct his errors, equity funds are seeing net outflows, unemployment in the service sector sux (as well as all others), earnings are not stabilizing, capital spending is almost non-existant, etc. The turn will come when the eps of '02 start being compared to the absolute crap of those in '02. A ton of irrational exuberence is needed. Hope I'm wrong as I did not sell my long positions and have been adding to mutual funds and select issues. Then again,,,,,,,, I have not covered any short positions either...LOL! |
