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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Hank Stamper who wrote (10525)	5/25/2000 4:26:00 PM
From: SJS	Read Replies (1) \| Respond to of 24042

Dave.....I went checking via Ask Jeeves for a true definition of a "bear market" (and bull one, as well...): lowrisk.com then lowrisk.com

To: Hank Stamper who wrote (10525)	5/25/2000 5:10:00 PM
From: sea_biscuit	Read Replies (3) \| Respond to of 24042

Most bull market tops begin while corporate profits are still rising. Many tops are accompanied by only wiffs of future inflation after periods of extended business expansion. In fact, these conditions are part of the reason why it is so hard for people to see the top as a "top." 'With everybody working and corporate profits at record levels year after year, how could this possibly lead to a bear market?' That's just it. It can. Ironic, eh? Precisely. The following article excerpt from Kiplinger narrates the state of the affairs in December 1972, just on the threshold of the nasty 73-74 bear. Things were going great when the bear market started. It has to be remembered that bear markets always begin in times of extreme optimism, and bull markets begin in times of extreme pessimism. The stock market should go higher still because "prosperity is almost certain to continue," reports Business Week. Fortune says it's "hard to imagine a combination of circumstances that would entirely undo the good work of the past few years, which halved the inflation rate from roughly 6% three years ago to about 3% now." Equally sanguine is Robert Wade, director of research for the Wall Street firm of Burnham & Co., who says that the Walt Disney Co. remains a good value even though it's priced at 70 times earnings. "Disney typifies what a growth stock should be," says Wade. "It has a unique image and franchise. It makes people happy." It's December 1972. The Dow Jones industrial average hovers at a lofty 1000. H. Ross Perot is a big player on Wall Street. Super Bowl tickets go for $15. And you stand on the precipice of one of this century's worst bear markets, second only to the tumble that kicked off the Great Depression...