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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (13561)7/19/2002 7:47:46 AM
From: KyrosL  Read Replies (2) of 19219
 
JT, I agree with you that a double dip is now less likely than a continuing, though not very robust, recovery. The reason is the fall of the dollar without a rise in long term interest rates, and the virtual guarantee by the Fed that they will continue to keep short term interest rates low until employment and capital spending revive.

However, I disagree with you about WCOME. WCOME is worth and will be worth ZERO. There is no way that WCOM bondholders are going to be made whole -- the only scenario under which WCOME is going to be worth anything.

Also, I think that technology is going to underperform in the next up cycle. It is still way overvalued. I think the bargains of a lifetime can now be found among utilities.

Kyros
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