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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: JDinBaltimore who wrote (35605)	12/5/2000 9:20:10 AM
From: Peace	Respond to of 50167

Hi John, It sounds like you think we are going to have a recession very soon. I can see your point in that light. I understand that some of the Dows gains have come from cyclicals and certainly a big portion of that could be defensive money. But I dont buy the argument of a recession when cyclicals are hitting new highs despite the defense argument. Growth is slowing down and you are bound to see a slowdown in corporate profits. We have been seeing that. But basically we have a healthy economy and all the markets are doing is wiping out the excesses. In any event, time will tell where we settle. For now I think we have run the course of the correction (most if not all). In 6 months if the economy is tanking rather than growing then we will need another big correction to reflect that. Until then, I think we will move higher. Peace