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Phillip, have to admire your optimism but I hope you know what your doing if indeed your fully invested and I assume primarily in Apple. Tomorrow may indeed be an up day but I wouldn't be surprised to see continued selling into it and the day ending down. If you read the full text of Greenspan's speech you would find it not nearly as positive as the media impressions. Secondly, the meeting between the Japanese, Rubin and Greenspan apparently did not go particularly well. Thirdly, it appears Russia is heading for political chaos this week. Fourth, we are approaching the time for Starr's report which will IMO lead us into impeachment procedures that will be viewed very negatively in the current global environment. Fifth, even at the levels we are now at, stocks remain historically overvalued buoyed by demographics we've discussed. However, there are indications that money is finally leaving the market which could slash PEs much further than thus far. In conclusion, absolutely nothing has changed for the better thus any rally is likely to be short lived. Phillip, I can't imagine why you think things are about to reverse themselves. I see not one glimmer that any of the problems deepening around us are improving. Rich |
