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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Wizard who wrote (7934)	7/18/2001 10:56:34 AM
From: techanalyst1	Respond to of 57684

Well... No one wants to buy pre-earnings (can you blame them?) and everyone is afraid of the worst, so down we go. Merq will probably be pretty oversold (not as much as a couple days ago though) if it closes near here... not that that is going to help if they guide down significantly. But maybe it pukes out everyone who really wanted out pre-earnings. TA

To: Wizard who wrote (7934)	7/18/2001 7:57:17 PM
From: Bill Harmond	Read Replies (2) \| Respond to of 57684

In every bear market (excuse me Wiz, this is actually the Mother of sector rotations!) that I have experienced as an investor, 1974 vaguely, 1982, 1990, the market has anticipated a recovery. Here we have a situation where companies are confirming previously lowered guidance (which speaks to me of some stability) and the market sees it as bad news. Greenspan wasn't encouraging enough? A couple months ago the market fretted he wan't discouraged enough. What's this obsession with visibility and a catalyst? Is a light supposed to just shine suddenly? Do we go from red to green?