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Technology Stocks : JDS Uniphase (JDSU)
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To: SJS who wrote (15810)1/4/2001 11:56:20 AM
From: Bill Holtzman  Read Replies (1) of 24042
 
like the Titanic, you can't steer the ship immediately away from the iceberg. It's too big.

Steve, I would normally agree with this logic but I hate to admit that I find myself agreeing with TA that it's different this time.

The internet has given everybody access. The pace of modern life is so fast. Everybody is analyzing what's going to happen 6 months down the road. It's like every passenger on the Titanic had their own outboard motor they could throw out and turn that puppy like a sunfish.

The fact that the rate cut won't have an impact on the economy immediately isn't important. The investors know it will help out 6 months down the road or so and that's all that matters. In the meanwhile, because we are such a stock frenzied society, the rising market will be self-fulfilling. Rebounding wealth effects will make their way into the economy well before the rate cuts do.
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