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


To: Dealer who wrote (44005)11/6/2001 5:21:27 PM
From: Jim Willie CB  Read Replies (1) | Respond to of 65232
 
got a lukewarm to bad feeling about QQQ soon though
just like RRick on his option put orders
after QQQ nears 40, and now that Fed rates cut sharply again...
what next?
all this monumental monetary stimulus by the FedReserve
and the small fiscal stimulus by Congress and Prez
should keep as afloat for a short while
the wretched reality of reported economic numbers will be ongoing
and relentless until perhaps thru Christmas

I see technology sector as the most vulnerable
their inventories are still bloated
they have inventory ratios just as bad as months ago
so the norm will be more layoffs and cutbacks

the final pillar remains as real estate
consumer spending power is really declining

but as in last spring, the Fed rate cuts buy time
we are climbing the proverbial wall of worry
worked thru oodles of turd-strewn numbers last week, this week

I am reminded of the seasonal strenk of Nov to March
we are in it now
/ jim