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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (539)	1/4/2001 1:31:55 PM
From: Dave Gore	Respond to of 6445

Jenna/All: I think the market is underestimating the significance of the BMCS upside earnings announcement (as well as KEM's reassurance, RDRT and others). If there is a truth to the worry that IT Capital spending is slowing, the BMCS earnings report was either an anomoly or spending may not be slowing as much as some think. In fact, with the Fed Rate Cut, I suspect many firms are already re-evaluating their cap spending budgets and deciding to loosen their purse strings somewhat this quarter and especially next. I am cautiously optimistic that after we get through earnings warnings and especially if we don't drop that much over the next couple weeks and start to stabilize, then we could see a slow, steady return of the NAZ to as high as 3500 by mid-Spring. I am watching closely to see if the Market can post a multi-day winning streak or even to see if it just manages to not go down. If it can stabilize a bit, I think we will see many more small investors and Fund managers brave the waters again.