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Strategies & Market Trends : The New Economy and its Winners

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To: techanalyst1 who wrote (12879)	7/20/2002 2:20:56 AM
From: schrodingers_cat	Read Replies (1) of 57684

Looking around , I see quite a few good earnings reports (outside of technology). For example, Union Pacific and Yellow freight, Fannie Mae, commercial banks, GM etc. The trouble is, that the market seems to be completely ignoring good earnings and economic numbers. I think that people have lost faith in stocks as an investment. With a house, you could walk into it and bang the walls, but with a stock all you get is an earnings report and in some cases a dividend check. And if you can't believe in the earnings report that undermines the whole system. There's also the matter of momentum. Stocks have been losing money for years. A mass liquidation of 401Ks could potentially feed on itself. So what really worries me, is that a falling stock market could eventually drag down whole economy. I really hope that the market does bounce here. That would put in a good double bottom on the Dow. Otherwise, I have no idea where the bottom will be. You may well be right about the economy being in trouble, but it is also a characteristic of bear markets that they tend to ignore good news, especially when they go to extremes.

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