Justa,
Agree. The odds of Greenspan being correct are better than not IMO, with the S&P trading at historic valuations, SEA coming apart at the seams, and corp. profits grinding to a halt. Hopefully we'll see a few more days like today and not one big whammo! That would scare off many investors for some time.
BTW, the SOX held up very well today compared with the Dow. For once, the Dow is pacing the retreat downward. Among this group are some of the most overpriced stocks in the universe(KO, G) and a good bleeding is just what the doctor ordered. Although not as pricey as the internUt stocks, they are at lofty valuations, even considering the fact that they have steady earnings. I'll be interested in how KO fares over the coming qtrs., since 80% of its operating income comes from outside the US. They could be poised to take a hit like CA did yesterday, though I don't think it would languish too long.
quote.yahoo.com
BK
BTW, notice how the Bears on the AMAT thread do not come out unless AMAT is falling like a rock? There were very few posts today, most by people other than the regulars. I think you know who I mean<GGG> |
