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Strategies & Market Trends : Rande Is . . . HOME

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To: Rande Is who wrote (51715)	5/25/2001 3:35:31 PM
From: Joe Smith	Read Replies (1) of 57584

Careful here... Interesting reaction to an extremely dovish Greenspan as well as a great turnaround in Consumer Confidence. Clearly, the Teflon has worn off of the rally. Obviously an upturn in the economy is priced in here and any threat of a prolonged bottom on a U-shaped downturn will be met with a sell-off. If you are holding here, then you are betting that there will be no indication of a prolonged bottom. You are betting that Greenspan has won. Although the cuts may take hold and improve the economy, that vision may be eclipsed by warnings season and an accompanying fear that the recession will not respond to the monetary medicine. If you think that a healthy bear is scary, think about a bear that has been shot a number of times and still turns and charges at you. Although, he may not have a long life left, for a short time he will be terrifying. I think that this is a distinct possibility and have become sidelined once again and am looking for candidates to sink my claws into. Any really bad news will lead to a very sharp sell-off IMO.

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