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Technology Stocks : JDS Uniphase (JDSU)
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To: djia101362 who wrote (10109)5/9/2000 8:38:00 PM
From: Hank Stamper  Read Replies (1) of 24042
 
djia,
My 2c on 'bearishness':

I only have to take myself back to the spring, summer, and fall of 1998. There was a great deal of discussion--on CNBC, other financial media, and from my friends and co-workers--about how bad the situation was and how there could really be a recession or worse. Remember? There was even talk that if the Fed didn't do something, there could be a very hard period of disinflationary recession or even a depression!

I also remember the palpable fear when the markets all crashed in 87.

Now. Oh, people are upset. Sitting on the sidelines. General fear in the population? Nope. Not by a long shot. The real bear will stand up when there is widespread talk of how the market has tanked and how bad the economy is getting or is going to get. The real bottom will be accompanied by sentiment that says 'stocks used to be a good investment but we're in a new era now.'

Best,
David Todtman
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