as with this law firm, so will go with many tech and nontech firms
layoffs are steady and unrelenting, perhaps accelerating
watch EMC announce a second round of layoffs soon
my buddy in computerdom marketing research indicates storage sales are still declining
and information technology capital purchases are nowhere near recovery, even continuing to decline
the forward thinking and correctly seeing firms that lay off workforce to reduce costs will survive
some which dont will not
my same old refrain: sell the rallies
e.g. EMC, CSCO, INTC
Naz at 1500 or lower is coming this autumn
the TSUNAMI that I warned about is happening in Japan now, 17-yr low for Nikkei
and this time, the US economy CANNOT hold up the Asian PacRim
the 1997 Asian Meltdown was rescued by the US juggernaut economy
even as the Fed Reserve has lowered interest rates, Asia has approached depression
this time around, the US will not be able to rescue Asia's more fragile economies
Taiwan, Singapore, Korea have already registered a recession
three civil wars going on in Indonesia (the world's biggest basket case)
terrorism is rampant in the Philippines
and the granddaddy Japan is about to experience a near collapse
it has decided to allow its "walking dead" banks to fail or survive on each own's merits
the Nikkei is heading down another 30-40%
the panic will spread to the US and European markets this autumn
precious metal stock will take off
their combined mktcap is under $100 billion
watch, wonder, weep
/ jim |
