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

To: Mark Marcellus who wrote (49664)	7/24/2001 10:22:06 AM
From: Joseph Beltran	Read Replies (1) \| Respond to of 70976

Mark, Perhaps you can start a new thread entitled: "Beyond Blood in the Streets" man. that gives me the creeps.

To: Mark Marcellus who wrote (49664)	7/24/2001 11:09:02 AM
From: robert b furman	Respond to of 70976

Hi Mark, I'm on record as thinking the market already has bottomed.I'm primarily a semi-equipment sector investor.In my world the bottom was in October last year. The interim has provided a base building that I think adds much technical strength to the sector. The fact that networkers(csco,sunw,and fiber companies(glw,jdsu) are bottoming out just now indicates to me that the consolidation is ongoing and by requiremnet including all sectors. I don't put much faith in sentiment indicators although I do watch them.I think the best has been put to call ratio and it has spiked up regularly to .9 for a long time.So fear is very much a part of this market and a reversal will occur when the maximum number of players are numb(not watching) or shook out. This bear has been nasty in any percentage term you want to apply.I expect it to go sideways first and then turn - perhaps after a final shakeout - but just as likely after a long boring dull period of listless trading.Either scenario works for me. I believe we are much closer to the bottom than the next rise.My major concern is accumulation of stocks at the lowest possible price. I think outstanding short positions are feeling the clock of an economic turn turning up the urgency to cover the huge gains made from the top.Those johnny come lately shorts who just learned shorting is out there, will continue to add strength to the consolidationas they learn you don't short the bottom - you short the top.You buy the bottoms and that's what I think we are seeing in this consolidation.JMHO Bob