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To: Lucretius who wrote (40851)	11/26/2000 6:22:16 PM
From: AllansAlias	Read Replies (2) \| Respond to of 436258

Ah, the waves... They are not helping here for the NASDAQ. I get a different count every time I study it. Grrrr! My best guess is one more wavelet down. When I look at the S&P for waves I just think "Oh God, this is really about to go to hell." What's a body to do? -g

To: Lucretius who wrote (40851)	11/26/2000 7:25:31 PM
From: IceShark	Read Replies (1) \| Respond to of 436258

Even more so as he invokes WrongWay, who was really RightWay, whatever grief I have to take. -g- On July 17, 1938, Douglas Corrigan filed a flight plan for California and took off from a Brooklyn airfield in a tiny single-engine plane. 29 hours later he arrived in Ireland, claiming his compasses had failed. Although Corrigan never quite admitted it, his ‘mistake’ was surely a ruse to circumvent aviation authorities who had turned down his request to make a trans-Atlantic flight. Corrigan’s stunt caught the public fancy and he was given a hero’s welcome on his return to New York.

To: Lucretius who wrote (40851)	11/26/2000 7:33:09 PM
From: UnBelievable	Read Replies (2) \| Respond to of 436258

A Rally In The US Equities Markets Monday Can Only Be Explained By The Fact That These Markets Are Fraudulent, Manipulated, and Bankrupt There is not a single development or fact which justifies any sane person from concluding that the value of US Equities should be one cent higher than they were when the market closed Wednesday. If anything the developments of the last 4 days continue to reinforce the fact that equity prices already are much higher than they should be. There is no interpretation of the political developments in the US which can be construed as at all Bullish for the equity markets. I can think of few events over the last half decade which have cast a greater doubt on the viability of the US government. Regardless of the outcome the degree of rancor and divisiveness which will pervade every aspect of this countries government can not be underestimated. The idea that a context for corporate prosperity will be promoted by such a situation is ridiculous. There has been no positive development in the underlying economic context that justifies any realistic optimism for the future. The magnitude of the corporate and consumer debt problem and the implications which they have for the profits of every company in the US become clearer with each passing day. The fact that current equity prices have no basis in future earnings is not even debatable. Whether it is a PE of 77 for KO, 130 for CSCO, 70 for SUNW, 117 for YHOO, 25 for IBM, or 30 INTC, 515 for JNPR or whichever there is no economic scenario under which these prices represent the present value of the future earnings of these companies. Anyone who continues to believe that this countries economic salvation lies in technology truly is a fool. The extent of the energy crisis also continues to become clearer as not only oil and its derivatives continue to become scarcer and more expensive, but also natural gas and electricity prices continue to skyrocket, each already being two to three times greater than they were a year ago. The world, both economically and politically, is even in greater peril than the United States. Country after country, region after region, continues to report data that presages a global economic downturn of unprecedented magnitude. In addition the degree of interdependence of the US economy and the entire world economy is greater than ever. Violence and political upheaval continue to increase not only in the Middle East, but also in almost every region of the world including Eastern Europe, Africa, and the republics of the former Soviet Union. It is in this context that we are watching the US dissolve as a leader with any claim to leadership based on morality, democracy, or even the ability to intervene based solely on a clear and undivided view of what is in this countries or the world's interest. Nevertheless as I type the process of bidding up the Futures has begun. The Financial Industry continues on its mission of transferring as much wealth from the American people to themselves as possible. If there is a rally in the US Equity markets tomorrow it will not be because the prices of those markets are low, it will because the Industry wishes to continue to maximize the price at which they are selling worthless paper to the world. They certainly have the right to bid up the Futures prices. I also suppose that the Mutual Funds have the right to continue to violate their fiduciary responsibility by using the money of their investors to obscure and defer the inevitable recognition of the folly of the investment decisions that they have made over the last decade. But it also is the right of every owner of equities to use this false elevation of these markets to sell any equities they continue to own and minimize the extent of their losses. It is also the right of each individual to decide to remove their money from mutual funds both to minimize their future loss and as an expression of an unwillingness to continue to be swindled. There is a saying "fool me once and you are the fool, fool me twice and I am a fool". Perhaps losses attributable to the decline in the value of equities from March 2000 until now can be attributed to the greed of the individuals who run the financial markets. But the responsibility and blame for the additional losses which people who continue to participate in the equity markets will incur can not solely be attributed to fraud on the part of the people who run the financial markets, but also will have to be accepted by each individual investor who continues to allow their own greed to blind them to the least bit of common sense.