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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Voltaire who wrote (14586)11/11/2000 4:02:17 PM
From: Boplicity  Read Replies (1) of 65232
 
I really don't want to bet on it, the odds of something happening other then what we have now is so great that the market could turn on dime, no matter who is elected. I do feel if the market sees more escalation in the fight for the election the market will be going lower. We are at a very tenuous point now with 3000 as a very large psychological barrier, once breached, which wouldn't take much, the real panic will set in. Valuation are still out of hand too. SEBL is at 10 times earnings, NTAP is 9 times, JNPR is 13, the list is endless even after all the selling. There is no way one can use the excuse of forward looking estimates when the economic out look is so hazy. I see little to none catalyst now, nearly every sector has been hit with the notion of a slow down in the economy. The health of the market is very poor. I find it hard to believe that the PC sector can really be blamed for the selling we had yesterday. No one should of been surprised by what DELL did or a downgrade to INTC. So I'm left with price as the catalyst. What is amazing is that during drops like this Abby and company come out and defend the market. Where are they? Nowhere to be seen. I find that unsettling to say the least.

Greg
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