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Politics : PRESIDENT GEORGE W. BUSH

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To: Scumbria who wrote (135761)4/5/2001 1:17:04 PM
From: greenspirit   of 769667
 
Scumbria, if you're looking for one single catalyst in which to blame the downturn in the the tech sector on. My theory, certainly makes a lot more sense then blaming a President who has barely been in office 3 months.

The notion that some kind of pygmalion effect has happened in less than 3 months because of Bush being elected, which in turn has infected a 10 trillion dollar economy and caused a 50% market meltdown, is so ludicrous as to be laughable.

The Justice Departments attack could not have come at a worse time for the market.

Take a look at this 2 year chart of qqq.
bigcharts.com

Now, take a look at the date negotiations broke down, and the Clinton administration signaled its intention to continue the fight against Microsoft and break them up. March 17, 2000

cmcnyls.edu

Given this, everyone who understands the dynamics of the market knows not one single event is to blame for this correction. However, the Justice Departments actions certainly were awful timing from a psychological perspective.

Michael
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