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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Frederick Langford who wrote (22724)10/28/2001 2:21:12 PM
From: TechTrader42  Read Replies (1) of 52237
 
Yes, interesting stuff in that:

``The market's relative lack of interest over the last month in the news under its nose and its obsession with discounting events which may or may not occur 12-15 months from here, makes it vulnerable to a setback,'' said Robert Kerr, a strategist at Bank of America. Investor immunity to poor company news alarms others too.

``I do not understand why we are desensitised to this extent,'' said Chris Woods, chief investment officer at State Street Global Advisers, which manages billions of dollars on behalf of investors.

The UK and Continental European markets are closer to fair value than Wall Street, but their fate is still tied to America's performance, Woods said.

``I don't think the U.S. market has bottomed out. It is still expensive compared to forward earnings, so I can only assume the bulls are in cloud cuckoo land,'' Woods said.

``They are betting on a strong rebound in the first half of next year, but I disagree about that.''
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