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Technology Stocks : Intel Corporation (INTC)
INTC 36.33+0.5%3:30 PM EST
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To: carl a. mehr who wrote (131728)4/5/2001 10:19:47 PM
From: Saturn V  Read Replies (2) of 186894
 
<Have we seen the bottom of the stock market? I sure hope so! My portfolio jumped by +26.8%. >

The umpteen million dollar question ! Or is today's action a dead cat bounce or a bear market trap ?

Those investing in 90's have no experience of bear markets. My memory of markets goes back to 1973. End of the each bear market was defined by

A. Universal pessimism - We are almost there. Practically all stock categories have been ravaged.

B. Investors sitting on the sidelines waiting for the carnage to end. The investor money just piles up. -- This condition is satisfied today. All the 401k and institutional money is on the sidelines.

C. Then the daily slide in stock values was followed by a mighty jump on huge volumes. This pattern continues for days. Today's jump reminds me of those reversals. -- So is this the end for the bears ? If todays pattern is repeated over the next few days, the bear will indeed be dead ! So I will keep my fingers crossed.

Unfortunately even if the bear market is over, it will be at least a year or two before our net worth is back to what it was last year.

PS. The other gorilla Cisco is in bad shape. My rumors and sources tell me that Cisco's situation is worse than what is public knowledge. Consequently Cisco will be forced to lay off 11000 people as opposed to the expected number of 5000.
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