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Strategies & Market Trends : Guidance and Visibility

AAPL 271.84

-0.4%

Dec 31 3:59 PM EST

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To: 2MAR$ who started this subject	7/1/2002 8:02:35 PM
From: 2MAR$	Read Replies (4) of 208838

Stocks plunge on first day of Q3....no bottom in yet cbs.marketwatch.com End of terrible first half for investors The end of the second quarter closed out a devastating first half of the year for investors, with more than $1.4 trillion in wealth wiped out and the S&P 500 turning in its worst performance in more than three decades. The S&P's percentage losses for both the second quarter and first six months of 2002 were the steepest since 1970. It wasn't quite as bad for the Dow: the blue chip barometer's percentage loss in the first-half -- 7.8 percent -- was the shabbiest since 2000. The Dow closed out the second quarter down 11.2 percent, the Nasdaq off 20.7 percent and the S&P 500 13.8 percent. On the week, the Dow fell 0.1 percent -- its sixth straight weekly loss -- while the Nasdaq rose 1.6 percent. Using the Wilshire 5000 Index as the broadest gauge for the stock market, about $1.4 trillion in market value was wiped from stocks in the first half of the year as a falling dollar and a rash of massive accounting scandals shook investor confidence to its foundation. Now the trillion-dollar question: what will happen in the second half? "Unless the entire corporate world has cooked the books and this is not just isolated to a relatively few aggressive companies, then we think the latest selling is probably overdone and that the worst is behind us," opined Mark Arbeter, chief technical analyst at Standard & Poor's MarketScope But not everyone agrees, including Barry Hyman, chief investment strategist at Ehrenkrantz King Nussbaum. "We can't say we reached an ultimate bottom. Accounting flaws may still be uncovered over the next one or two quarters," Hyman remarked.

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