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To: JRI who wrote (67752)2/14/2001 5:11:34 PM
From: pater tenebrarum  Respond to of 436258
 
there should be a moment of recognition...and we're inching closer to it imo.

tech buyers will have to consider THIS (remember, we're looking at the top tech dog here, Cisco):

csf.colorado.edu

regarding the Dow, it is discounting nothing but splendid times at current levels. it is not only discounting a 'soft landing'. it is discounting nirvana.

i don't know what will be the catalyst that breaks confidence...but if i spot something that seems a likely contender, i will certainly mention it. the California energy/utilities crisis had potential, and still has. however, the effect on the broad market has been relatively subdued thus far. one thing i expect to see this year is a handful of high profile bankruptcies...that may evolve into a trigger too. since institutions are up to their eyeballs in US stocks, espousing the most bullish, fully invested stance of the past decade, it may not take much to trigger an avalanche.