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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.17

+0.2%

Dec 11 4:00 PM EST

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To: Suresh who wrote (38383)	11/9/2002 3:23:08 PM
From: Johnny Canuck	Read Replies (1) of 69022

Hi Suresh, >>> I am seeing another troubling sign... if it continues... >>God help the high tech workers of Silicon Valley and US! It >>will have far more implications than people think Are you referring to the export of manufacturing and r&d job overseas in order to get lower cost? I noticed that even lower cost countries like India are suffering. I was listening to a radio broadcast that was talking about the collapse of the software industry. They were saying that new engineering grads were going into the call centre business instead. Amazing they said people working in call centre made as much as people that worked as engineers. Call centre workers seems to considered a profession as opposed to here where it is a short term transitional job. Interesting that trying to learn a mid-western US accent is part of the training. What has your impressions been on the earnings outlook. I have only had a chance to hear a hand full of conference calls this quarter. My general impression is that most company beat dramtically reduced estimates. In addition retailers are being cautious this season. They ordered less than last year. So even if the consumers want to spend, there is less stock to buy so profits will be limited. On the tech side corporated demand remains weak and most companies are suffering with excess capacity and no pricing traction. I don't see deflation quite yet, but the ability to raise price is not there either. The reality is that we need a new disruptive technology is drive demand. What that is I have a hard time seeing right now. R/W DVD's may be it if they can get the price point low enough. Flat LCD's are still are not cheap enough to trigger a consumer drive to replace their exist monitors.

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