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Politics : Formerly About Applied Materials
AMAT 301.11+6.9%Jan 9 9:30 AM EST
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From: scott_jiminez2/27/2001 3:56:29 PM
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What recession?

The following post appeared earlier today on the Yahoo/Klic thread:

>>>>>
'What Recession?'

As of 3 PM today, some stats from the NYSE:

New highs: 95
New lows: 18

Golly, these are expansion, not recession, numbers.

Opps! Almost forgot - the 1000 are so stocks that trade on the NYSE, representing the largest companies in the US...don't count any more! Just stare at the NAZ...AND NOTHING ELSE.

Ya can't have those sort of NYSE numbers - and an NYSE A/D line looking like the contrail of a shuttle launch (printed in the New York Times business section today) - when you're going into a recession. The tech sector is in a recession, the rest of the economy is not. And 'the rest of the economy' will soon be pulling the techs back to life.

Folks want to ignore the NYSE data to fulfill their self-fulfilling prophesy. So dudes and dudettes, we're NOT headed for recession.

The rest of the economy will soon be pulling the techs back to life.
<<<<

The comments by all these tech CEO's that the US is in recession is more of a function of their own perceived self-importance than a real reality check. The techs are slumping, the rest of the economy, for the most part, is not. Thus tech is not in the drivers seat...as it was for virtually the entire nineties. The concept of tech in recession and the rest of the economy not is a concept alien and unfathomable to most tech CEOs.

The upside may be, as stated in that post, that the rest of the economy will pull the techs back up.

The nerve.
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