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Strategies & Market Trends : Waiting for the big Kahuna
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To: Mephisto who wrote (48095)7/26/2000 6:47:08 PM
From: Lee Lichterman III  Read Replies (1) of 94695
 
Earnings were in the past in a friendlier interest rate environment and booked a lot of "other income" based on selling stock. if the market stays down, they may be booking "other losses" instead <g>

There is also a lot of evidence that the semi cycle ( they are cyclical despite what new era believers want to admit) may be topping thus TXN saying they are expanding may be the poster child like MU was when they started teh Utah plant that sat idle for 3 years during the last down cycle.

Yes, SUNW and EMC and tonight FLEX had great earnings but the PEG ratios are obscene and the cinderella story is more than priced in already. If my income is going to grow 30% will you loan me 200 times what I make now?

I do feel we are over due for a technical bounce but so far, the bounces are weaker and the declines are stronger. That is not bullish.

Also despite what most posters and news pundits try to spin about rate cuts being over, the economic news has either been worse or else at best has showed a leveling off of already too hot growth. If I am doing 200 MPH in a 55 zone and then slow down to 198 MPH, am I still speeding or not? The talking heads would say I am not speeding and shouldn't get a ticket because I am going slower than I was a few minutes ago. I don't think the cop is going to buy that story. <ggg>

Good Luck,

Lee
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