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Strategies & Market Trends : Drillbits & Bottlerockets

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To: Jorj X Mckie who wrote (10409)	5/9/2001 11:44:29 AM
From: John Pitera	Read Replies (1) of 15481

we have not heard as much about europe hurting US corp. earnings this year, but I found this interesting: Gesundheit 5/09/01 7:16 AM ET Germany is catching a cold… industrial production down 3.7% in March over Ferbruary. Expectations were for a less than one point decline. Cisco made some pretty strong comments about abrupt European weakness yesterday. National Semi warning may not have been a surprise – but for the first time in a while, a US tech warning did have a knock-on impact in Europe as the semi stocks have dipped today. “It can’t get worse” theory will likely be tested if we start getting more double-dip semi warnings. Twice in three months is a pretty brisk pace for a sector that is expected to be bottoming out.

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