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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who wrote (101943)5/14/2001 9:52:27 AM
From: SOROS   of 436258
 
CONTRARIAN ALERT

SOROS is now OUT of the MARKET. I know -- senility reigns. Reasons:

1. On a historical basis for market bottoms, the S&P would have to go BELOW 800 to be in-line.

2. California energy problems give me the creeps -- CA is how much of the US GDP -- perhaps almost 9%???

3. Bond market did NOT respond favorably to the anticipated rate cut this week -- usually predicts what's coming.

4. If cut is NOT 50, have you ever seen cliff divers?

5. Tax cut pre-approval had NO positive effect on this market -- VERY bad.

6. Productivity was the WORST number (1st quarter) in about 45 years -- DOWN! Couple this with wages rising something like 5.2% and can you spell INFLATION risk? I know -- all the experts say there is NO inflation -- we shall see. Also, tell that to the guy filling his SUV with gas.

7. The continued layoffs really bother me. This WILL hit consumer confidence and spending HARD (even harder) very soon, IMO.

8. Companies are in DEBT to their necks -- and borrowing more! WCOM raising ANOTHER 11.9 BILLION!!!!!!!!!!!!!!!

9. I thought I read somewhere that the head of SUNW said the word "guidance" should be changed to "wild ass guess". That pretty much sums it up.

I remain,

SOROS
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