VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: stockman_scott who wrote (48011)	2/25/2002 7:17:44 PM
From: Petrol	Read Replies (1) of 65232

Stockman, I read that post. The one thing that occurs to me is that while some traders on some threads here on SI have been bearish, there is NO overwhelming concensus to that end. In fact, almost ALL people I know in real life have been majorly bullish on the markets since the nas hit 2500 last year. I don't put much faith in bullish commentary here on SI, but I DO put faith in bearish comments as those are from the people who are 1. much smarter than I, and 2. have been correct all along since the bubble began to pop in 2000. I also don't believe the restatement of earnings forecasts. I don't want to buy stock in any company when I see insiders selling huge blocks. I'm not going to give my money to the very people who created such obfuscation in an effort to unload their shares to the public at a profit. Apparently, however, most people (as indicated in the markets today) believe that traditional business principles don't count anymore. If a company never made money, hasn't made money, and probably won't make money - why the heck not buy it anyway? Perhaps it really IS possible that ENE and TYC and a couple others were the only ones cooking the books. Regarding American consumers... we are all typically a very stupid lot - and this is my opinion noting how people believe that telecom and semi's will lead us out of a recession. I'm not going to believe forward-looking/hopeful statements until these bloated companies prove to me that they have the ability to do something that's worth my money. How many of these stocks are upgraded only to have huge blocks pass the tape? XLNX was upgrade on Friday and there were 92 block trades today alone. Think those are insider's buying? I don't. From the looks of the Form 144 data, lots of insiders sold at higher prices and they're not buying back now. I don't believe anything reported by the media as told to them by insiders because they have never told the truth anyway. I guess I'll just have to wait and see what happens. (darn! if only what I think could move the market... hehe) Pardon the rant, I had to get that out. :O)

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