Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who wrote (167)	10/24/2000 6:09:27 PM
From: quasar_1	Read Replies (1) of 74559

You Can't Handle the Truth... Thanks TM... This is how the press works. Try to square these two statements both from the same piece: Many American companies have reported lower profits, sending jitters through the stockmarket. Unfortunately, they may yet be lower still... Sonds pretty ominous... Then farther down... And, according to estimates compiled by First Call/Thomson Financial, a research firm, corporate profits should have risen by 16% over the past year. If history is any guide, the actual results will be a bit better. Which one is it? Are profits up or down. The lead line about stock market jitters sets the tone. It is the headline. The reality is buried beneath. 16% profit increase on the low end is very good. They hype the well-publicized blow ups and mention in passing that earnings will be up on average 16%. Now if earnings are up (which on balance they are) and the stock market is supposed to reflect future earnings why has the stock market fallen for the 6 months prior to earnings being up? As far as the smoke and mirrors section that has been going on for a long time. Nobody seemed to care when the Nas was at 5200. What has changed? The Nas is now down 40% from that high. Now all of a sudden we have found 'the truth'. 'The truth' has always been there. The only difference is now we want ot concentrate on the 'negative truth' vs the 'positive truth. In the end there is no truth except true wealth. There is only perception and psychology. It's all pretty amusing... Quasar

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