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To: marginmike who wrote (51718)	12/27/2000 6:18:51 PM
From: pater tenebrarum	Respond to of 436258

yes, but i frankly doubt these old tenets have much meaning anymore. to me the cyclicals look like they have already completed a pretty rough bear market. they're rate sensitive, and that's why they're rallying now. of course if no soft landing is forthcoming, that rally will fizzle soon enough.

To: marginmike who wrote (51718)	12/27/2000 7:46:19 PM
From: Archie Meeties	Respond to of 436258

LOL. An interesting way to put it. Bear markets are characterized by false hopes of premature recovery. The situation in the retailers, financials, housing is reminiscent of the nasdung during the summer. Despite crumbling fundamentals they refuse to die - propped up by false hope and financed by jqp bag holders. It will take nothing less than concerted and massive short selling on missed earnings for those sectors to re-enact the recent tech debacle. -g-