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Technology Stocks : IBM
IBM 290.26+0.1%1:40 PM EST
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To: Robert Scott Diver who wrote (7570)4/5/2002 4:28:26 PM
From: Scott Bergquist  Read Replies (3) of 8218
 
IBM hits an 8-week low
Things are =not= looking up, short-term.
Finally, "buy and hold" is crumbling as an investment concept. Rather than "look across the valley", it has become "don't buy until the valley is at our backs".

It is the big mutual funds' fault, and the coin-flip-accurate analysts, for creating this climate of "beating quarterly estimates", honoring stock buybacks as sound business practice, and open-ended conference calls, that have twisted managerial practices into a stock-price "be all, end all" mania.
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