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

To: Bob Biersack who wrote (29418)	10/4/2001 10:57:51 AM
From: LTK007	Read Replies (1) \| Respond to of 30051

<DELL confims numbers...pops 2+....bubble coming??>Bubble never left.Traders that have exploited this move,i applaud.Individual investors and MFunds doing a buy and hold will be toast in time. The fact that all ships rise on mere re-affirmation of PATHETIC earnings projection fits Richard Russell's description of a Primary Bear Market rallies that are based on NOTHING but irrational re-action to vacuous emotions of hope. Let's see jobless claims come in via briefing.com <<Highlights Initial Claims rose 71K to 528K last week. The four-week average rose to 453.5K from 424K. Key Factors Claims now at their highest level since the July 1992 GM strike. Four-week average the highest since December 1991. Continuing claims rose by 133K to 3.410 mln during the week ended September 22. Continuing claims at their highest level since August of 1992. Increases not surprising when considering the paralysis surrounding corporate spending. Even before the attacks, corporate America had stepped up its downsizing to protect profits. Category Sep 29 Sep 22 Sep 15 Sep 8 Sep 1 Initial Claims 528K 457 392 436 410 4-Wk Moving Avg 453 424 410 412 400 State Benefits 3410K 3277 3226 3330 4-Wk Moving Avg 3311K 3256 3225 3209 Insured Unemp Rate 2.7% >> BTW--CSCO and DELL by re-affirming their earnings are only re-affirming what DROVE the stocks down in the first place.How pathetic is it when rallies ignite,in part,by re-affirming BAD BAD news!(CSCO and DELL are now overpriced--but i DO believe Dell and CSCO are going to survive this shake-out(many many others won't)---Chambers has stated within 5 years 50 components on the NDX100 will be no longer existent,already 7 are below a buck.) as i say,i applaud traders that caught and played this,but the buyers that buy to hold as longs,i can only sigh.Max