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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jim Willie CB who wrote (50801)	5/1/2002 2:37:30 PM
From: stockman_scott	Read Replies (2) of 65232

"A Different Kind of Recession" story.news.yahoo.com <<: What are the chances for an end to this downward drift? A: Three things are weighing on the market right now: the situation in the Mideast, Enronitis, and concerns about sustainability of recovery in the second half of this year. The first-quarter reports -- and comments with them from management -- have been reasonably good. We believe earnings estimates for the second quarter are very realistic, but the very ambitious third- and fourth-quarter estimates may not be attainable. The problem is that this is a different kind of recession. The bounceback in tech and telecom is where much of this growth so far was supposed to come from -- and we haven't seen that yet...>>

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