Can't take credit for "Zippergate"; heard it on another thread and thought it was much better than another I had heard, "Fornigate". Thought it might get more interesting when stories came out about witnesses, but found myself wondering whether any witness would have been able to conclusively identify Lewinsky as the one if all they saw was the top of ....
Enough sleaze already. Sorry.
Bought some Gateway. The market may end up dragging it down, but don't see much risk trading at .9 times sales and with an upper teens forward PE if they are back on track as they seem to be. Also figured I should hedge my bearishness a little. Seems like a relatively easy move for GTW to go back toward its high of last year around $46 if the market just moves sideways. It's been in the doghouse, but Salomon/Smith Barney upgraded to outperform late yesterday. More upgrades wouldn't surprise me. Any thoughts?
As for Zippergate not dragging down the market yesterday, the surprise of it all (if anyone is really surprised by the shenanigans of El Libido) seems to be worn off. How he does tonight with this cloud over his head could raise or lower the fear level significantly. In any case, the market isn't looking very healthy to me. And this slow bleeding may be harder to dismiss than a sharp correction that people rush in to buy.
One last Zippergate comment - Whether they had "sexual relations" or not (Webster's defines that very clearly as only one thing - "Coitus". Look it up.), if she can't prove it and there are no witnesses, why didn't his staff spin it better? Day one, they could have said 1) absolutely nothing happened, 2) it was simply the star-struck fantasy of a young staffer, and 3) she was transfered out of the White House because her behavior was inappropriate and disturbing other staffers. Certainly believable and could even be true, but now it's too late for such a simple answer.
I thought he and his staff were the best at spin control. Were they sleeping?
Bob |
