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Strategies & Market Trends : The New Economy and its Winners

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To: Lizzie Tudor who wrote (14582)	10/29/2002 12:40:03 PM
From: Killswitch	Read Replies (2) of 57684

Make of it what you will "No News We Want to Hear By James J. Cramer 10/29/2002 10:49 AM EST No pickup. I know that's not what you want to hear. You want to hear pickup. So did everyone in the Intel (INTC:Nasdaq - news - commentary - research - analysis) breakout room at the Prudential Tech Conference at the Grand Hyatt. But no-can-do. Andy Bryant just simply said he "hadn't seen it yet" when asked whether the bullish comments made by Michael Dell over the weekend had infected his company yet. Nope, not happening. I guess the bearish facts just keep interfering with the bullish tech story. Dell (DELL:Nasdaq - news - commentary - research - analysis) may be going up, but that's because of share-taking, not because of business comeback. Not only that, here's the real bad news for tech: The Intel meeting was wall-to-wall people. I couldn't even get into it at first. I had to push my way in, and when I did people were furious. The place was crawling with portfolio managers looking for a turn. In fact, the whole conference is extremely well-attended, which, I believe, is still one more bad sign for those looking for a bottom. We need to see this conference devoid of people before we can put in terra firma. It was just the opposite. You have to believe that until Andy Bryant talks and only a handful of people listen, we still are going to find bottom-fishing an extremely unrewarding sport."

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