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Politics : High Tolerance Plasticity

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To: Don England who wrote (765)	3/1/2001 9:54:47 PM
From: Sharp_End_Of_Drill	Read Replies (1) of 23153

Don, I don't know what's magic about June - other than it's a quarter away, but I tend to agree it looks grim. It should be clear by then to all that the malaise is worse than has been thought, and that second half rebound theories are star dust just like internet stock valuations. However, there will probably be a new mantra by then to keep the bubble dreams alive. Regarding CSCO giving credit to telcos. You probably couldn't find anybody, other than FGH, less worthy to extend credit to. Telecom has been the worst area for debt glutony, and I really do believe significant bankruptcies are in store to work through that mess. On the brighter side, I sensed a change in the tech market today. First IBM, and then networking & optical type stocks turned and went up nicely. Financials also bounced a little from the depths of earlier today. Perhaps this is the start of a short term rally. I hope so, because I'd like a better chance to go short again. I think the real clue will be when the media changes the tune of propaganda from very negative back to positive, ala the 180 it did between late December and mid-January. Sharp P.S. in serious need of a "bitch slap" today. Bought some PGO.

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