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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: HammerHead who wrote (6949)	5/3/2001 4:03:15 PM
From: dennis michael patterson	Respond to of 52237

thanks!

To: HammerHead who wrote (6949)	5/4/2001 8:42:55 AM
From: dennis michael patterson	Read Replies (2) \| Respond to of 52237

Robert, I have to be out this morning but I just saw the number. This is bad bad bad for the Naz. Roach is right: R is here. With these unemployment stats. consumer confidence will unravel. As far as I can tell, that is the only thing holding up the market. We'll get Fed cuts-- juicy ones. But they won't help technology stocks one bit. Employment number NVLS' outlook All indices turn at resistance. Bear mkt rally is my conclusion. Let's see how far we retrace This sounds right to me: Dave Nadig MARKET 5/04/01 8:45 AM ET I am the first one to slam the media and the pundits and the idiots like me for panic-mongering, but the bottom line is that this was, indeed, a truly terrible number. This is recessionary, in a big way. This is the largest payroll drop in a decade, and it means in this month alone, a quarter of a million people stopped working -- and presumably most of them didn't want to. Think about that. The tech layoffs we're largely baked in to economists' expectations. This isn't surprise layoffs of C++ programers. Annecdotally, this rings true, if sadly, to me. All the help wanted signs that were like wallpaper in Silicon Valley have been gone for months. The best thing you can say about all this is that the stock market is reacting rationally -- that is, it's trading down on news that the economy is in trouble. This strikes me as much more healthy than the Greenspan games we usually play.