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

To: Math Junkie who wrote (48907)	7/9/2001 1:36:22 PM
From: Fred Levine	Respond to of 70976

Richard--re: bullish sentiment. I agree with you that the threads are not representative of shareholder sentiment, but I also think the data you posted is also misleading. Since most people are long, there is a built in "hope" bias that prices will go up. If more people were short, the poll would reverse itself. However, being bullish doesn't indicate that people are buying shares again, just that they are still hoping. In addition, IMO share prices are more determined by the mutual funds and money managers. They fear is being wrong more than they have hope of being right. Therefore, they overreact, IMO, to the stream of bad news that has been flowing. How could they explain that they held, e.g., Sycamore, when it went from 200 to 10 when the news was bad? In the same way, when Brian starts posting some increases in sales and profits, IMO, the MM's will fear being left behind. At 6:00 EST, Morgan is scheduled to be on CNBC. I doubt that he would have accepted the interview to only report doom and gloom. I'm still long and practicing my Budhistic tranquility exercises. fred