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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (33331)	8/22/2001 1:50:08 AM
From: velociraptor_	Read Replies (2) \| Respond to of 37746

Nope...no recovery. At least not for a while still. Do we keep going down? Possibly, but we certainly are not having a recovery. Nor am I a doom a gloom prophet. I'm not looking for global depression or a whole system collapse or even a crash. All I am saying is that there is no recovery and there won't be for a while. You won't find me touching tech as a long term buy for a long time. That stuff will be in the dirt before all this is done. A lot of tech companies will go on but they have to start turning a PROFIT before they get a reasonable valuation. Until then, you'll find the tech penny stock list growing as the weeks and months pass by. Oh, and that massive amount of sideline money is a load of crap and frankly, is getting kind of old. That tune has been played for months now and it simply doesn't exist. Don't you think they would have put that cash to work on the last bottom? Oh, wait...they did. And here we are sinking lower and lower. A lot of what little sideline cash that was left has gone POOF! along with stock prices. Do you think everyone got out at the top and is saving all that cash? And that money is not in real estate either. Much of real estate is bought on credit, not with cash and Americans are loaded to the hilt with credit. Interest rates may be low, but many couldn't get the extra equity if they wanted to. They couldn't pay it. Of course you could go the route of getting those 125% 2nd mortgages at those super high interest rates, which only puts people into more of a credit bind. Not exactly the place people would want to be when lay-offs and pink slips are being handed out like candy. Positive guidance doesn't mean squat in my book. SHOW ME DA MONEY! And the number of companies who have given positive guidance is pretty small compared to those that don't. Besides....try going back and checking out all those companies that gave positive guidance in the past and then came back saying...whoops...we had a bunch of cancellations..things have changed. I bet you'll find a lot of those and hardly any at all that came back and said thngs were better. Again I say...SHOW ME DA MONEY! Market caps low? Ummm...no. In 1 year and a half, the sum average of companies have managed to wipe out all profits made going back to 1995. Take a look at where the indexes and stocks were at that point. We're not done here. I do agree with only 1 point of yours. There will be rallies in between before it's all done and some may tack on 30-40% to a few stock prices, but it won't hold.