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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (4024)	6/6/2001 9:24:54 PM
From: Raymond Duray	Read Replies (2) \| Respond to of 33421

Hi John, Re: Your comment - , it was reported that in the past they had not done this as since the workers would need to be hired back in the future, it was more efficient to just keep them, through the lean period. Seems that a whole lot of companies, (SUNW, JDSU, LU, Charles Schwab) come to mind, seem to have a new attitude about employee counts that indicates to me that a number of CEO's don't buy into the "U" shaped recovery scenario. Added to that the paucity of insider buying and corporate stock buybacks and I think it becomes clear that the smart money thinks we're going to be in the near recessionary doldrums for the foreseeable future. Giving me the general impression that the recent run-up in the NAZ has to be anything but sustainable. BWDIK? Art Cashin of CIBC/Paine Webber is rapidly becoming one of my favorite talking heads on CNBC. His comment on today's "market reaction" was a good one: "You know, down here on the floor (of the NYSE) we have an old saying, occasionally a patient has died during a healthy reaction..." Cashin on corporate earnings: "You can't get earnings out of these corporations with a mask and a gun." Yogi Berra on 80-1? "It's deja vu, all over again." Ciao!