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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: AllansAlias who wrote (54086)1/4/2001 1:34:42 PM
From: jcky  Read Replies (1) of 436258
 
Come on guys...

The time to be bearish was when the Nasdaq was over 4000 and Uncle Al was raising interest rates while speculation was running rampant. There has just been an emergent 50 basis interest rate cut and probably another 25 basis point cut by the end of this month. The Feds are reacting appropriately to the economic conditions. And let's not forget the possibility of fiscal policy (i.e. tax cuts) as another alternative to stimulate the economy.

Now if Uncle Al had chosen to do nothing then I could see understand your bearishness. Sure, there will continue to be profit warnings going into Q1 and Q2 but the market does look forward. And unless you see a worldwide economic calamity then implying the Nikkei is similar to the Nasdaq is just jumping the gun. And even if the Nasdaq is confined to a trading range for the next 12- 24 months, so what? There's still money to be made on the trading ranges and some consolidation for the market is healthy.

The Nasdaq has already dropped from 5000 to 2200. Most internet stocks have been decimated. MSFT, DELL, INTC, AMAT, and even CSCO have had their headed handed on a platter. What more do you want? And yes, the Nasdaq will probably give back some of the recent gains but the worst is probably over.

Regards,
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