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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (5035)	12/7/2001 1:13:07 PM
From: nspolar	Respond to of 36161

George, I don't see it ... dailynews.yahoo.com Sure there will be ups and downs. But I think the layoffs are actually accelerating, and that this will be a key factor affecting the market going forward. Some companies like BA have announced but are far from through. Ford announced a few days ago. The other autos will get hit too. We're talking large cos and large numbers here that haven't yet hit. Near double digit unemployment by late year is not unrealistic. With unemployment continuing to increase the sentiment will eventually turn and when it does look out below. The shorties just have to be patient. I starting shorting about 10 days ago. I've got more to burn. Funny thing, I shorted many of the same ones last time and got most at equal or better prices than before WTC. Now have things fundamentally improved since then? No I don't think so. The market didn't consolidate after WTC, not at all. Just reversed and headed back up. Driven on hope and of late blind greed. A bad sign. There has been divergence in key market indices for quite a while. A lot of high flyers are showing signs of money flow breakdown. The weeklys never did regain their strength, although in many cases the price did. I wouldn't be surprised if the peak has been put in (as you apparently feel as well).... but this market doesn't follow too many rules. But unlike you I think it quite possible this next leg down could be a doozy.