I2 wrote: "I'd also tend to agree that Brinker seems pleased with the market action, since he sounded much more positive on this week's show, as compared to two or three weeks ago."
Some of my comments:
1. The speculative bubble in internet stocks has only begun to burst. There remains much more air to go. Despite the huge drops in share prices, the stocks still remain way over valued. There has yet to be a real selling frenzy--no melt-down days. The i-traders still have cajones.
2. I disagree with you, Justa, in your comment that it is positive that the sell-off (such as it is, cf. my comment above) has not included the S&P and the Dow. This only means that the so-called correction we had a few weeks ago in the markets (S&P, Dow, Nasdaq) retains its standing as too week to really provide the needed health restoration.
3. On my hearing, Brinker said there is a distinct possibility that on inflation news due out late this week, the bond and stock markets may move upward toward the area of the old highs or beyond. This, in the context of a) a no-beef correction, b) valuations beyond anything ever imagined, c) a Fed focused again on inflation, d) an extremely tight labour market (US), does not augur a long bull life.
Ciao,
David Todtman
P.S. I think any person who is critical regarding corporate news about Justabid.com, bobbrinker.com, and the other companies owned by habitue's of this thread, should NEVER be allowed to become director of those great firms! I for one, am angling for a seat. I'm tired of packing a lunch box every day. |
