More for the tomato throwers:
"Durable goods orders rose a higher-than-expected 2.8 percent in October, the Commerce Department said, boosted in part by strong demand for machinery and a 65.2 percent surge for communications equipment."
So everyone still thinks its bs that the telco's have loaded up everyone with the line of bs so thick and long that they don't need to add capacity? And their junk bonds are going goofy on sheer speculation from bond investors?Yeah, I think that must be it, junk bond guys are more than willing to throw dough at these guys on speculaton..they actually think they are all going out of business, they just want to make a quick buck. hmmmm.
I think the bears only hope is us going into Iraq. I am about 80% short again, as of the close, because we are too far above max pain, and because of Iraq. But I think a new bull started In late July/early Aug. I am old enough to remember massive recoveries without much cap ex pickup initially. And what you all look back and see as low pe's, well when we saw a pe of 13 on something with no growth, no possibility of much growth in its field, 2% margins, and interest rates of 20%, that didn't look as good as getting a cd at the bank. Now the cd pays less than the dividends on the majority of the dow.
I think a lot of guys who made money consistently for 30 years are looking at the new breed bears who have done well for two, and they are thinking the new bears sure don't know what is hitting them. |
