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Strategies & Market Trends : The New Economy and its Winners
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To: Slumdog who wrote (513)5/23/2000 2:19:00 PM
From: Bill Harmond  Read Replies (4) of 57684
 
I know what you mean, a decline fed by attrition. That was what the 1974 bear market was like, puncuated by a few brief stunning rallies.

I don't think we're in a bear market, because there isn't the fundamental background necessary for one, principally inventory imbalances that could lead to recession. The business background for technology is strong and stable.

This is an interest-rate correction. I have a broad list of new-economy stocks in my portfolio that I have held throughout this decline, and even though individual issues have been all over the map, my total portfolio hasn't made another low since 4/14, almost six weeks ago.
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