Stitch,
Thanks for you compliment. Don't forget, that I'm not posting the press releases from companies that announce good news. I also don't post any bad news from a company if it is not related to Asia. So that leaves out about half of them so far.
Also, I think I mentioned this before, I hate being a bear. I keep looking for reasons to get fully invested, but it's not easy. Funny, I just saw a little teaser on CNBC (I wonder if you receive that in Malaysia?) concerning Abby Cohen giving the market a boost today. The teaser said something along these lines, "Abby Cohen says markets to go up the rest of the year because corporations continue to perform well." I probably shouldn't pick on her specifically since CNBC wrote the teaser, but this is a good example about some things professionals say that I just don't get(see my previous post).
Sometimes I feel like I'm not on the same planet as these people. Isn't it a fact that S&P earnings were up only 1.5% in 1Q98? Doesn't 2Q98 appear to be down just as much (maybe they know something about 2Q that we don't?). How can she say something like, "corporations continue to perform well?" Isn't the S&P 500 selling at a record PE of 24? Didn't inventory levels rise to record levels in 1Q98? Asian markets appeared to tank last night across the board, and it is getting incredibly little press so far. Sure is puzzling at times.
MikeM(From Florida) |
