Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: nsumir81 who wrote (53377)	4/18/2002 10:16:45 PM
From: DlphcOracl	Read Replies (1) of 99280

This is precisely why I do not see a meaningful low within the next month -- the lemmings keep rushing in to buy the dips and snap up the "bargains". Never mind that many of the tech companies are 2-4 quarters from seeing any meaningful recovery in their businesses, that many of the Dow stocks are trading at 52-week highs with PEG ratios that are quite rich by their historical standards, that the small and mid-cap indices are at 52-week highs, etc. The summer almost always has a meaningful correction and the earnings results and guidance I have seen so far indicate that the economic recovery will not be a smooth one. It will happen, but just not yet.

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