Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: lurqer who wrote (17510)	4/17/2003 10:05:14 PM
From: Sully-	Read Replies (1) of 89467

Hopefully you got my point. IMO, it is a bull(chit) rally. Thus the <g>. That & my previous post on the subject. Maybe we complete that big 'C' the E-wavers are talking about. Nothing would surprise me at this point. Obviously valuations have no meaning again. Nothing from earnings seasons points to blue skies ahead. If anything it's grey skies ahead. With lowered forward guidance & in line guidance being the rule & upward guidance the exception, even a second half recovery (for the third year in a row) seems somewhat doubtful. Most companies will not grow earnings sufficient to justify current equity prices, let alone a year from now. We've already discounted a swift victory in Iraq prior to the shooting. The market seems to be unconcerned with post war Iraq & all the gloom & doom predictions. Economic data lately has been gloomy though. If it is a Bull, get out of the way of this one :-\

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