Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: excardog who wrote (212)	10/25/2000 7:48:20 PM
From: Erik T	Read Replies (1) of 74559

Oh yeah, I forgot to mention the upcoming margin calls and the start of a liquidity crisis that for now has crippled the high-yield (junk) corporate bond market. And another note about earnings. Without continually rising stock prices, companies will have less tax benefit from writing off employee options, which if I remember correctly from a Barron's article, accounts for some 30% of Cisco's EPS. All of a sudden, even bellwether Cisco has NO GROWTH. When/if panic sets in, it could get ugly fast. I think the bulls will defend NASDAQ 3,000 vigorously and if we break below that it's over for this time around. Erik

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