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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (46342)	5/7/2001 8:34:03 AM
From: michael97123	Respond to of 70976

OT Must read today is Bill Safire in NYTimes.

To: michael97123 who wrote (46342)	5/7/2001 9:50:52 AM
From: John Trader	Respond to of 70976

Mike, That's a deal. I think it is good for one to look back and realize how the market had tended to do what people don't expect. I think we need to expect the unexpected, and realize that valuations will go where the market wants them to go, on a short term basis at least, which may not be in synch with historical averages. Remember Y2K and how it was thought the market would crash for that, and the lack of confidence in the ability of technology people to prepare for it? It seems that Wall Street is infected with group-think to a level beyond our imagination. The idea of a really huge market rally, followed by a big pullback late in the year, is I think something hardly anyone expects, so maybe it could happen. FWIW, I am not sure how much I will be posting late in the year when the Nasdaq may be in the 3000's (may be focused on work), but at the very least I will be checking in regularly. John