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Strategies & Market Trends : Galapagos Islands

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To: Techplayer who wrote (11798)	11/7/2002 1:00:59 PM
From: Jorj X Mckie	Read Replies (4) of 57110

tp, My feeling is that we topped out and that we now have the slide down the slope of hope in progress. We monster rallied into the big news.....The fed cuts 50beeps, Republicans take the elections, lots of positive earnings, though the guidance was a bit weak. Now what are we left with? Earnings season is over and was capped by CSCO's downward guidance. Economic news blew chunks. Fed actions say that they are worried and don't know WTF to do and the republican control of congress means that any fiscal stimulus that they are able to make happen will be offset by the republican pet spending projects. At best you have a net zero benefit from the elections. It is my belief that we head down for six to eight weeks and then we can see where we are from there.

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