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To: Art Bechhoefer who wrote (19058)2/12/2001 9:24:48 AM
From: Win-Lose-Draw  Read Replies (2) | Respond to of 60323
 
not necessarily tied to changes in earnings prospects

Why go for the complicated conspiracy when there are so much simpler explanations?

It is clear earnings prospects for the near-term are not as high as they once were, and it also appears we are returning to more historically-normal valuations. The market as a whole, and tech stocks in particular, are still significantly overvalued, so we should *expect* the big boys to move their cash out and put it elsewhere.

And it still begs the question...if this idea of yours is all to benefit "friends" of the Bushies, why are XOM and MRK down significantly since the election? That's Big Oil and Big Drugs...