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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Frederick Langford who wrote (22724)	10/28/2001 2:21:12 PM
From: TechTrader42	Read Replies (1) \| Respond to of 52237

Yes, interesting stuff in that: ``The market's relative lack of interest over the last month in the news under its nose and its obsession with discounting events which may or may not occur 12-15 months from here, makes it vulnerable to a setback,'' said Robert Kerr, a strategist at Bank of America. Investor immunity to poor company news alarms others too. ``I do not understand why we are desensitised to this extent,'' said Chris Woods, chief investment officer at State Street Global Advisers, which manages billions of dollars on behalf of investors. The UK and Continental European markets are closer to fair value than Wall Street, but their fate is still tied to America's performance, Woods said. ``I don't think the U.S. market has bottomed out. It is still expensive compared to forward earnings, so I can only assume the bulls are in cloud cuckoo land,'' Woods said. ``They are betting on a strong rebound in the first half of next year, but I disagree about that.''

To: Frederick Langford who wrote (22724)	10/28/2001 5:08:20 PM
From: TechTrader42	Read Replies (1) \| Respond to of 52237

Excellent piece: "This Mr. Sunshine Sees More Rain" nytimes.com Note the paragraphs about perma-bears: Mr. Cliggott was not the only bear on Wall Street during the last two years. But many of the others are dismissed by professional investors as "perma-bears," pessimists who have called stocks overvalued for a half-decade or more. Mr. Cliggott has been both bullish and bearish over that span. "He's a great strategist," said Scott B. Schermerhorn, who manages $3 billion for Liberty Funds in Boston. Some strategists make up their minds about the market's direction, then search for data to support their views, Mr. Schermerhorn said, "but Doug just looks at data and interprets what the data seems to be telling him."