tommorow ???
i am not going to make any predictions but looking at things they don't look good and here's why,,long bond at 6.24%,the coup in pakistan,the weak dollar ,strong gold,and the tightening bias by the fed, the horrble a/d line and the narrow few stocks going up while 80% of the market is down for the year ,imo the thing that was keeping the market going forward was expected blowout earnings by blue chip tech bell weathers and now the street's worse fears have been realized by intel actually MISSING the consensus numbers and motorola JUST meeting the consesus,the only way that you could justify these high p/e and valuations is earnings and now intc is missing in a rising inflation enviorment,,,it is intresting to look at the earnings of the brokerages it seems that they are the ones making big money and you have to wonder why ???i am still bullish but think we may be having a set back that might last through y2k as liquidity dries up,,, |
