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To: cfimx who wrote (45025)	12/7/2000 1:34:16 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 436258

i think NSM said it the other way around...their CURRENT qu. will exceed (lowered) expectations somewhat, but they gave cautious guidance. remember, not too long ago, companies and analysts were of the opinion that everything was going to be a-ok. as recently as mid September to be exact, when the current decline in the market had already begun. that is imo an extremely bearish factoid, because it appears that things have deteriorated at an unusual speed. also the magnitude of the warnings is quite astounding, see e.g. the AAPL and MOT misses... i say this in reference to the 'light at the end of the tunnel' remark. they have only just entered the tunnel, and found that it's a steeply inclined tunnel. GTW believed until 9 days before it had to warn that its q. would be on track... this jibes btw. with past recession onsets, that seemingly out of nowhere, fundamentals begin to simply plummet away. check e.g. the NAPM....the contraction evident there is already worse than during the last recession. and it has only just started!