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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (13334)	3/26/2001 6:10:59 PM
From: velociraptor_	Read Replies (3) \| Respond to of 37746

I have noticed all of those things. They pop the futures before the open to pull in buyers and then sell it off over the next hour or two. The bulk of the gain today was in the gap open. Naz just plain sucks. People still love tech but they won't be buyers until they feel confident of a real bottom and it's not happening. On top of that, the first leaders here will be the best of the best of the techs like Intel, Microsoft, etc and they were the ones who seriously lagged today. I am not sure how those CNBC guys can keep calling a bottom and people believe them. They've been wrong for almost a year now and stocks are still overvalued, including those on the DOW and S&P and with earnings declining it is not going to get any better. The economic slowdown is starting to spread globally and I keep hearing stories of businesses losing a lot of their growth. And don't forget all those lay-offs. I don't think the big companies would be laying off so many if they saw a recovery in the next quarter. One other thing....we have yet to see the effect of the job slowdown. Most jobs lost are skilled jobs at this point and these people tend to have some savings to live on or can find something else scaled down and do just fine for now. But when you start seeing jobs lost in places like retail and fast food, etc, then you'll know it has trickled through the system.