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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (40385)	8/18/2001 4:37:52 PM
From: stockman_scott	Respond to of 65232

An Excerpt from Barrons posted on Trend Setters: ___________________________________________________ A Key quote from Barrons, just to cheer everyone up <g>... <<"Ford woke some people up" to important profitability problems outside tech, says Thomas McManus, a Banc of America Securities strategist. To hear McManus tell it, it's probably going to get worse before it gets better for the market, particularly in the September-October period. First, the third-quarter earnings season will soon be upon us, and it will be a "disaster," as any lingering hope of a second-half recovery will be put to rest there, he asserts. Selling engendered by third-quarter announcements will be compounded by portfolio managers dumping stocks both to raise cash for an expected rise in yearend mutual fund redemptions and also tax-loss selling ahead of the October 31 fiscal-year deadline. How bad? McManus sees the Nasdaq falling through April lows of 1,638 "to 1,500 or a little lower.">>