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Politics : Stockman Scott's Political Debate Porch
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To: Jim Willie CB who wrote (3960)8/5/2002 5:02:06 PM
From: stockman_scott  Read Replies (1) of 89467
 
4:03 (Dow Jones) You can pretty much disregard that nifty rally of a week or
so ago. Stocks have latched on to negative thoughts once more - the economy,
the Middle East, Latin America, etc. - and a retest of lows is probably in the
works. In fact, the Nasdaq Comp is closing at a bear-market low, and is only
about 15 points away from its intraday low. ISM data not horrible, but not
encouraging, while bets heat up for next Tuesday's Fed meeting. Cisco reports
tomorrow night, and outlook isn't expected to be much different than in
quarters past. Major averages close at or near session lows. DJIA sheds 274 to
8038, Nasdaq Comp falters by 42 to 1206, and S&P 500 drops 30 to 834
(preliminary).
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