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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Terry Whitman who wrote (7210)5/7/2001 4:42:20 PM
From: Paul Shread  Read Replies (1) of 52237
 
The only problem with that is whether you view this as a Nasdaq-only bear market. The SPX didn't top out until Sept. 1. ;-)

I'm leaning toward bullish but skeptical myself; the inverse H&S patterns have my attention. I don't know when the next bear phase would come; we're quite a ways from the next doom-and-gloom economic reports.

On the other hand, some idiot on CNBS was calling this a rare opportunity in the COMPX. For what? To lose money? The fundamentals are awful, and the rose-colored-glasses analysts expect Cisco's earnings to decline for another year. If the stock gains nothing over the next year, it's trading at 60 times 7/02 estimates. Do we really need more than 400 CLECs, long-distance carriers and metro service providers, and can the Fed keep them all in business?
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