Did Tom Kurlak turn bearish on the group lately?
I try and archive these guys. (I'd sure like some help posting their opinions somewhere on Suite101 so we can do this search and get more results as I miss many.)
Search for "Tom Kurlac" for the past yr.
suite101.com
suite101.com
Date: October 31, 2002
Subject: Here a bear, there a bear, everywhere a bear, bear....
From bear #1 Fleckenstein,
"...A Priori Acid Test: I did receive a handful of emails during the day about a piece penned by Tom Kurlak on RealMoney. My only comment to the piece is that while many people are trying to make the argument that this is the bottom yet again, valuations for some of the big-cap semiconductors like Intel (INTC:Nasdaq - news - commentary - research - analysis) (INTC) and Applied Materials (AMAT:Nasdaq - news - commentary - research - analysis) are about three times what they have been at prior troughs. One would think that after the biggest bubble in the history of the world, we might see "sub-trough" valuations. But even if we return only to the low valuations of past cycles, what we're seeing today cannot possibly pass for those kinds of levels.
Level-Headed Advice: Meanwhile, it's not my place to give personal advice to people, and I generally don't do this, but given where the economy looks to me to be headed, I would think that sometime in the next week, between now and the FOMC meeting, the stock market will have seen its best levels. So, people who are overexposed to stocks might want to use the next four or five sessions, plus or minus, to lighten up. I simply cannot believe the market does not have unfinished business on the downside.
So it appears that Fleckenstein thought 3 weeks after THE BOTTOM (Oct 9, 2002) was the best levels the market would see AND he implied that Tom Kurlac had called a bottom.
Going back 2 yrs:
suite101.com
We find Cramer mentions Kurlak while calling his sector overvalued:
Chalk this day's bearish tone up to that now-hallowed group. And hope -- even though I don't like hope in the equation -- that one day we will not all be hostage to the whims of the analysts who follow this overrated, overhyped, overvalued sector. |
