Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 47.79

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Dec 9 4:00 PM EST

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To: robert b furman who wrote (631)	2/5/2002 10:28:47 AM
From: Chip McVickar	Read Replies (2) of 207281

Here's an interesting look at the bond market. pimco.com >>I typed out a long response to you and just lost it! erghh<< Don't you Hate That....Drives me bonkers.... I don't believe you are entirely wrong, but I also don't believe any sell off (if it continues) will be very hard or very long. Let me put it another way.... If a sell-off is imminent then it will be crash..., a monster, like Sept 11th and out of our hands. Otherwise these markets will remain sluggish and tradable into the fall, basically range board. I don't believe your perception is wrong about ENRON and the accounting problems of that sector. The BASIS of our capitalistic system has got to be accountable, accessable and fair. Otherwise the system will not be sustainable. The people at ENRON are crooks... period. The rise and fall of popular capitalism is a rich study of economic history, we just came out of one in the 1990's. And so often with these cycles there are these "creative accountants" who eventually need to be scourged out of the system. That's happening very nicely today...., and this time it will not create a crash. Historically, there have been many incidents like ENRON. Jay Cook Government Bonds and the Northern Pacific Railroad...caused "Black Thursday"...Sept 18,1873..., etc...etc 1929. Popular Capitalism cycles in and out all the time. There's lots of Astro folks, and bible types who believe the end is upon us and the next 10 years will bring wave after wave of disappointment and failing markets...., driving the USA into bankruptcy. I don't wish to believe this, and expect another wave of technological inovation to be approaching just around the corner, and capture the investment publics imagination.

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