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Technology Stocks : copper mountain CMTN
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To: Probart who wrote (1049)10/13/2000 7:57:11 AM
From: Rarebird  Read Replies (2) of 1226
 
<Where have all the Bulls Gone?>

Right now the market can’t think straight and fear is rampant. Investors were so used to the good times of robust corporate earnings that it clouded their perspective of future prospects. This led I think to estimates of future earnings that were not realistic and investor greed pushed valuations to extremes.

Now we have an economy that is cooling to a more moderate pace. The funny thing is that on a historical basis the current level of economic activity looks wonderful. But compared to the rampant expansion over the last several years it looks like a let down. So, from these modest disappointments fear starts to rear its ugly head. And fear acts as a filter for our senses whereby it seeks out and usually finds more bad news to aid in our glass is half empty view of the world (Intel, Apple, Dell, Xerox, Home Depot etc). Just when things seem there bleakest is when the pendulum hits the fear apex and starts swinging back towards greed.

To make a Long story short, things will get better. And I would not be surprised to see a virtual repeat of last years activity whereby the market started to rise at the end of October and did not look back through the end of the year (actually it kept going til the middle of March 2000). However, this time around I look for broader market participation and hope that speculative issues will be held in check by a more rational view of their prospects. So smile…better days are ahead :)
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