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Politics : Formerly About Applied Materials
AMAT 265.39+4.2%3:59 PM EST

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To: Jacob Snyder who wrote (64179)6/4/2002 12:21:05 PM
From: fred woodall  Read Replies (1) of 70976
 
Jacob the problems with the market are not economic they are endemic of the culture of the market. Fraud is widespread. Weakness in technology is discussed on conf. calls every day. A lack of visibility by companies or a general unwillingness to forecast beyond next quarter is another problem. Accounting irregularities that occurred in Japan in the early 90's are now happening here. Foreign investors are selling some US based assets which is quite normal for this time of year but if you add the decline of the US Dollar some 7% in the last 3 months on the surface it looks very bad and of course the bears are working that for all it's worth.
Considering the trading cycles from a historical view 25 of the last 29 summers the market has sold off one might come to the conclusion history really does repeat itself.
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