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Politics : High Tolerance Plasticity

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To: pvz who wrote (14845)	7/3/2002 7:11:15 PM
From: Warpfactor	Read Replies (2) of 23153

pvz, I've read some messages denigrating the Fed model on Stock Attack and Zeev's Turnips. All from permabear types, typically citing high current PE's as the reason why the Fed model is invalid. These people I dismiss as morons (maybe I should use the term "uneducated"), obviously unaware that the Fed model takes current PE's into account when establishing valuation level. I've noticed that many of these permabears tend not to post messages of value for general consumption. Instead, they tend to post messages back and forth to each other essentially pontificating on how smart they are and what a rude awakening the bulls will have in the near future. However, few people seem to be calling a bottom right here and now (Don Hays being an exception). I really don't know where the market will go long term, but I believe that we will see at least an intermediate length rally, which started today. I put some additional monies to work in tech and biotech - adding to QLGC, and picking up PHTN, AMGN and VTSS. Terrorist activity tomorrow notwithstanding, I would expect nice upside on Friday and next week.

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