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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: SeaViewer who wrote (44038)12/5/2000 5:16:31 PM
From: pater tenebrarum  Read Replies (2) of 436258
 
that is immaterial. GTW wasn't aware it would miss big time up until 9 days before its miss became unconcealable. imo AAPL's HUGE miss goes to show how saturated the market for gadgets is, and how rapidly the economy is deteriorating.
so while the internet infrastructure biggies have not yet seen cause for alarm officially, my bet is that the high profile ones will soon have to go to the confessional too. the telco industry has added $600bn. in debt over 12 months, and has had negative cash flows of $35 bn. (globally)over the same period. capex spending is being cut left and right...as everybody becomes aware of the enormous overcapacities that have been created.
today's market action is reminiscent of the Nikkei bottom once again...it ultimately went dumpster diving way below that first bottom eventually. the speed at which the commensurate move in the NAZ will take place will likely depend on how quickly people become aware of the above points, as opposed to the old 'let's chase what's green and kinky'.
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