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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (28738)	9/26/2001 7:45:42 AM
From: Cymeed	Read Replies (3) \| Respond to of 30051

Zeev, you mentioned being in the bull outfit a couple of occasions. But I wonder where are the leadership stocks that must be present in a bull market. I have seen none so far. All I have seen so far is just bargain hunting. But the bulk of the market is not bargain at all, IMO. I looked at the price charts of BA, GE, Exxon ... those major corporations in the area of "old economy", they all look horrible. It certainly does not look like a bull market to me. Also, many mentioned the $2 trillion in money market fund currently. I wonder how much was the total in the money market during a bull market, say in 1999. I know the reason you feel bullish is the fear fact. But is the fear fact, alone, enough to qualify a bottom?

To: Zeev Hed who wrote (28738)	9/26/2001 10:12:53 AM
From: All Mtn Ski	Respond to of 30051

Zeev, Thanks for the response. MU is trying to be the low cost producer and their capex spending and drive toward smaller line widths will help. A 55% sequential reduction is ASP sure does hurt, though. It would be nice to hear the Koreans cut back, if I remember correctly, the last time DRAMs were in the toilet the Koreans were partly responsible, as government loans gave them no incentive to "manage" the business properly and they just kept expanding capacity until there was an oversupply of DRAMs. Hopefully with the creation of Hynix, there is a more "rational" approach to the business, but it looks like they are having problems managing their debt load in these difficult times. Their recent debt for equity swap might be in violation of the IMF bailout terms of 1997, since the government partially owns the banks involved in the swap. Infineon also just cut capex in half for next year: siliconstrategies.com Tom