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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (2066)	3/20/2001 9:55:29 PM
From: Razorbak	Read Replies (2) \| Respond to of 23153

Time / Newsweek / US News Covers Time: "Looking Beyond the Bear" time.com Newsweek: "How Scared Should You Be? / Weathering the Storm" msnbc.com U.S. News: "Bear Trap" usnews.com

To: Gottfried who wrote (2066)	3/20/2001 10:08:40 PM
From: kodiak_bull	Read Replies (1) \| Respond to of 23153

Gottfried, I was so happy to see the U.S. News cover with the bear, but the text failed to convey the utter sense of desperation truly needed in a magazine cover avec story to herald the opposite of what it proclaimed. Recall that the Businessweek cover "The Death of Equities" fundamentally proclaimed that investing in equities was about the most idiotic thing a person could do. The Economist cover "$5 Oil Forever" (or something like that) absolutely posited that we would be awash in cheap oil for just about ever, if my memory is correct. The Newsweek article, at least the lead story, had just a little too much positive spin in it: <<The good news for Block and others is that a growing number of Wall Street veterans think the final stages of the bear market are at hand. The bad news is that there are few financial experiences uglier than the final stages of a bear market. Ugly, perhaps. But understandable, given the magnitude of the tech-stock bubble that has been deflating for a year and still has room to sink. "There's nothing in this market behavior that's irrational," says Charles Pradilla, chief strategist at SG Cowen & Co. "I'm not saying it's pleasant or that there are no surprises. But no one would say that this shouldn't happen.">> To me, as long as people are still "understanding" what is going on, rationalizing it, thinking it has a logic and a purpose and an eventual end, then we're still a fair distance from the goal. It's when everyone is terror struck (except moi, of course, cool customer that I am) and thinking, "well, the Naz is at 1500, the Dow is at 8300 and falling, everything is headed . . . for . . . ZERO!! Abandon ship!!" that it is truly the time to buy. These are great times to be alive and to have cash and margin left at the ready. In the meantime, it's a lovely time to try to pick off some tasty little shorts. I think my pal Dabum has the right attitude. Kb