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To: Jon Koplik who wrote (109635)12/18/2001 9:36:55 AM
From: marginmike  Respond to of 152472
 
Jon I agree with what the captioned quote says. However I dont believe the snakeoil salesmen are bearish. If you look at the AII polls, investor sentiment survey or the dopes on CNBC they are all talking about a strong recovery in 02 and a 20% return in equities. The big analyst's have 70-90% stock allocation's(record highs). This is hardly bearish. Id give you a neutral do to the larger number of vocal bears, but no way has there been capitulation of the bulls. That will take time and loss before those are realized. IMHO
The fundimentals havnt been worse since the 70's, and the Fed has proven useless. Stocks have more down by early next year. IMHO