John, re:<<However, from a general market/economic standpoint....well.....yesterdays firestorm just shifted, imho, some important fundamentals into the negative category. It'll be some time before this changes, me thinks, so the loooong term view is a necessary predisposition to all investing.>>
What "important fundamentals" are you referring too? I don't think a single CPI report, that is one data point, changes things very much. The Fed is still going to raise rates 25 basis points at a time, and they will slow down the economy. I for one think that Greenspan will accomplish his objective of creating a "soft landing". If any fundamentals have changed, I would say it's "investor sentiment". However, I still believe that we are going to see some very good earnings reports in the tech sector over the next few weeks. These reports my help boost investor confidence.
However, I don't think we are going to see the market's "snap" back this time around. I believe we are going to go through a basing period. Then, a slow climb out of the hole. All in all, I think we will close out this year with positive returns in all the major indices. JMO
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