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Politics : High Tolerance Plasticity
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To: MetalTrader who wrote (7475)9/6/2001 2:22:11 PM
From: energyplay   of 23153
 
Metal Trader -

Looks like the average mutual fund holder is FINALY giving up on tech stocks and going to either bond funds or non-TECH mutual funds.

This huge wave of selling will drag the tech sector lower even as individual comapnies report good news.

There are still lots of BAD news pre-announcements out there for September.

Also, valuation are still way too high - Motorola reported that their semi book to bill hit 1, but sales are down so far they can't make decent money at this level. We may be in a U shaped buisness recovery, but earning will still be very poor at the bottom of the U.

JQP and others - As some one else pointed out , you guys may be thinking too far ahead of the market. The bottom of the U may go for a long time , and I think the average investors will keep selling at the lower & lower bottom until early 2002. Except for some very specific issues, like maybe a viable dot-com or hot software, I think there's plenty of time to buy lower. You guys are 3-4 steps ahead, and 1 or 2 steps should be fine.

In additon to the companies MetalTrader mentioned, regional banks (a big chunk of NYSE listing) have been doing well. I think the average regional bank is up 20-25% year to date.

Gas - It's cool in Northern California this morning. PG&E NorCal price for August was $3.74. For September it's $2.56. SoCla spots was about $2.22.

By the way, anyone have any more info on what excardog metnioned in post 3980 in the Boom Boom Room ?
This is the Japan / G7 bail out of banks wtih something like Brady bonds.

Bes of luck to everyone.
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