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Pastimes : Home on the range where the buffalo roam

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To: Boplicity who wrote (9861)	2/8/2001 12:14:42 PM
From: DOUG H	Read Replies (2) of 13572

LOL G, We'll get the pretzel police out lookin for ya! I know there is fear and loathing in the market. 1st Call is cutting earnings estimates all the time and the market is pricing it in. High PE's will have a very tough time going forward. IMO this sets the stage in which monetary and fiscal action could cause upward revisions, starting of course with consumer goods. I'll betcha a bottle of Dom against a bottle of Martinellis we get a "surprise" rate cut before March FMOC. Frankly, with all the bad news out there and being priced in I see more upside potential near term than downside. Business is stagnant and plans are on hold. The Feds target on rates can best be defined as "the level at which the business community (in the aggregate) assess risk vs. reward and begins to show up at the borowing window to finance economic activity". We're not there yet. The Feds wants to get there. DougH is looking at energy pick and shovelers and beaten up techs who beat estimates and issue positive forward guidance. (those who are helping old businesses become more productive new businesses). Mostly letting the charts tell the story. Staying diverse and nimble.

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