El-- The blame does not belong to the FED it is 100% Greenspan. He screwed up with 2 unneeded increases as the economy was slowing faster than he realized. Last night it came to light there is hardly any discussion at FED mtgs. AG says his stuff,, light discussion and thats it. This is NOT a committee but AGs ballgame. There have been RARE times when one or two members went on record as having 'reservations'. The old saying "never fight the FED" has been changed to "fight the fool". They will lose but are sending the idiot a message to their own demise.
Anyone that believes all the old 'bellweathers' will see their old highs in the next couple decades needs a bed in AGs institution. Companies are no longer warning for the qtr but 1 and 2 qtrs out. Things are not getting better yet.
Yes-- the mkts are low but it is much too early to buy as they will get lower. There is no reason yet for the mkts to change! A reason is required! Lets see Chambers say "I was wrong and things look better a couple qtrs out than I thought last week".
Abbey has been saying techs are undervalued-- on some you mentioned I agree but that does not mean they will not get much more undervalued. Look at the Paine Webber site and read Ed Kirshner (I like him as much as Abbey) and read his 12 pages on why now is one of the 5 best times to own stocks---
Yes-- 1 1/2 points in 90 days and he will do another 1 - 1 1/2 points before its over! The only thing we have going is the mkts move months before the reasons are in our face,,, that means we have time. Besides-- you are correct,,, I do not want the bottom,,, but instead of catching a falling knife I'll buy on the rise.
LOL! AG can not put as many $$ into the economy as fast as the mkts are evaporating trillions------- stop looking to place blame anywhere but on the fool that caused it just as I told you he did back in June I believe! He will do everything his now feeble mind will come up with to change his current legacy as bull killer....... |
