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Strategies & Market Trends : Waiting for the big Kahuna
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To: GROUND ZERO™ who wrote (55817)10/20/2001 1:43:54 PM
From: shoreco  Read Replies (1) of 94695
 
GROUND ZERO..I hate to but in, but the lows can only hold if the economy holds. IMO, earnings aren't that great and as far as forward guidance goes (That's why they call it warnings season). If unemployment continues to rise than credit debt will continue to fold. The Government is doing it's best to prop us up right now, but they too are rolling the dice. How can anyone believe we are going to turn around in 3-6 months when that's how long it's going to take to iron out all the ripples. First things first, let's get the Airline industry back on track before our tourism industry completely folds.

As far as TA goes, take it one day at a time.

I believe we started to roll over, even though they will try and whipsaw both shorts and longs. We can't compare this to Oct98 because that was clearly an artificial bubble full of Internet and IPO fever. During this time we had companies invested in each other so while stock prices soared so did their "pro forma earnings". So this leaves us to April01 when all we found was a massive Bear rally without the uncertainty that we have today.

Have you looked at any monthly charts lately, pretty scary.

EOM
Shoreco

PS
Again, I didn't mean to jump in, but I posted on this board about a month ago and I seemed to have found both bulls and bears here. When earnings return so will the Bull..
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