Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Teresa Lo who wrote (15479)	8/18/2001 11:17:25 PM
From: Rarebird	Read Replies (1) of 52237

The continuing rapid deterioration in earnings growth for most high profile tech companies bears watching and should not be taken lightly or rationalized away through psychological analysis. The whole financial media and many of the big brokerages have been telling investors since the Fed began cutting rates in January that an economic recovery will be coming in the second half of the year. Yet there is not a week that goes by that a high tech company doesn't warn of an earnings shortfall with no future guidance as to when business will get better. This may sound simplistic but the stock market trades on future earnings growth. The fabricated second half economic recovery keeps getting put off. The stock market is growing impatient and is beginning to realize that far from there being a second half economic recovery, this economy is likely headed towards a second half recession. Given the loss of confidence in future earnings growth, I expect the selling to continue and intensify as we head into September.

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