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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Paul A who wrote (33285)	2/25/2002 6:45:59 PM
From: Jane4IceCream	Respond to of 99280

Hi Paul! He's just another whiner. Hope all is well. Those semis were alittle fun today. Jane:-)

To: Paul A who wrote (33285)	2/25/2002 8:14:55 PM
From: puborectalis	Respond to of 99280

"Never let the facts get in the way of stock speculation," Bill Fleckenstein, president of Fleckenstein Capital, commented in Grantsinvestor.com. "While we have wiped out a good deal of speculation in certain areas, speculation that's practiced under the guise of investing still goes on daily." Fleckenstein made those comments Friday in light of the market's reaction to Xilinx's (XLNX:Nasdaq - news - commentary - research - analysis) upside revenue preannouncement, although I suspected he'd agree the point applied equally to today's session even before we spoke. "Yes, it's still ridiculous," the noted short-seller said in an interview after the market's close. He noted that those who are extrapolating forward the economy's fourth-quarter rebound fail to note the impact of the extraordinarily warm winter in much of the country and the zero-percent financing offered by automakers. (There was also the huge liquidity infusion by the Federal Reserve in the wake of Sept. 11.) Fleckenstein then offered his "grand thesis" about what's generating the gyrations in the market. "The public is becoming dis-enamored with the stock market but they haven't taken the money away from the pros yet," he said. "You still have too many people running other people's money [with the mindset] that 'it's OK to lose all the money, but the market can't go up faster than I do.' As long as that mentality exists, you'll keep having this wild action."