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Pastimes : Home on the range where the buffalo roam
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To: Sig who wrote (8404)7/26/2002 8:21:59 PM
From: pbull  Read Replies (1) of 13815
 
1. On the Naz, Y2K was 1929. Now it's 1931. There have been a few bounces, but mostly the funds are selling into it.
2. On the NYSE, the Nifties look a little pricey but they are always going to command a premium, and I suspect the large-cap leaders will be the megacaps of each industry group _ C, WMT, MRK, etc. Buybacks are underway at PEP and several others.
3. I wouldn't rule out a test of the lows, epecially if IBM blows up. Nightly Business Report tonight said Barron's may have a negative article in the works. I still think IBM is one of those that needs to come clean.
4. Perhaps most important, the powers-that-be, the G-8 finance ministers, met in Canada recently and we're seeing a firmer dollar. Big sea change. Those who followed the doomsdayers into gold are getting slaughtered.

PB
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