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

To: Jacob Snyder who wrote (48093)	6/18/2001 2:13:54 PM
From: John Trader	Read Replies (1) \| Respond to of 70976

Jacob, Thanks for your inputs. I agree, there are a lot of reasons why the Nasdaq could be near a bottom. However, I think it remains very hard to call. It seems to me there are a lot of question marks right now in technology, perhaps the wall of worry is too steep. Regarding the consumer holding up, it seems that the Wall Street pros always paint a picture of the average Joe as about to panic with regards to selling stock or consumer spending, but the reality is the average guy in Wall Street (e.g. fund manager) is much more likely to panic. One reason the consumer is holding out is that much of their stock losses are in the form of long-term 401K money. I think the short term movement of the Nasdaq is really in the hands of the mutual and pension fund managers. Because of that, just about anything is possible short term. What ever happened to the "efficient market theory"? Many stocks in the Nasdaq have been all over the place in the last couple of months, I don't see any "efficiency" at all. Looks more and more like a trader's market to me. John