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To: Jim Willie CB who wrote (12443)4/9/2001 10:17:53 PM
From: pbull  Read Replies (2) | Respond to of 13572
 
Jim, I share your optimism on the outlook for a change in social scenery this spring (I'd sure like to see some flowery blouses again), but the economic fundamentals are getting worse.
I live in the Midwest, and gasoline is approaching $1.50 a gallon, up about 25 cents in the last six weeks since the OPEC decision. Not good for most companies' margins.
Abelson, whether you like him or hate him, can sure turn a phase. He makes reference this week to the Fed open mouth committee and says that they, and most economists, seem to be in denial about the real state of the economy.
We'll get a rally at some point, but I believe an easing of the energy crunch would be worth more than an easing by the Fed. That's what I'm waiting for in order to be cautiously bullish again.
And, yes, I like your handle. The markets certainly are wooly these days.

P.S.: Gilder's writing style reminds me of when we had to listen to Howard Cosell on Monday Night Football.

PB