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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (139382)9/26/2001 9:50:36 AM
From: Rob S.  Read Replies (3) of 1583142
 
I think we go up in a stock pickers market. The market will likely "climb a wall of worry" as long as the retail consumer doesn't collapse too severely. Longer term, toward the 2nd half of 2002, I expect that the huge amount of economic stimulus from lower rates, increased government spending and lower tax rates will pump up the economy. Two or three years out we may see another adverse "irrational exuberance" cycle as a consequence of this crisis. Prior to this I think the FED had the stimulus about right . . .now it and the world's cooperating banking systems have pulled out the stops.

As we have seen, security & defense issues will get a lot of press and investor attention. Odd twist on "New World" companies. For a while the frivolous Internut companies probably will stay on the back burner of investor's thoughts. Toward the end of the year some of the network stocks may perk up as more realize that redundant and more distributed networking & telecom infrastructure is needed. Wireless may see a further boost but I can't say if the recent increases in cell phone use are sustainable.

The market may go back to test the lows of last week but for now it looks resilient. It is shrugging off some bad news on the earnings front and shows buying on the dips rather than massive selling or short selling on the rallies.

There are some very good buys out there but the market will not move up swiftly.
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