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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Sergio H who wrote (28427)	4/11/2002 7:02:30 PM
From: Ken W	Respond to of 29382

Sergio ORBT 52 week high SGDE coming off a 52 week high PETM 52 week high AN 52 week high PMSI coming off a 52 week high. <GGGGGGGGG> subtle are we not?! Some things in Crossy's post I agree with, some I don't. While I have the utmost respect for his opinion, I must take defference with the "recovery". Plain and simple. People are spending money they do not have. Credit cards spending is up nearly 1% over last year. At some point in time credit comes due, if they can't make the payment then personal BK comes into view with the resulting write offs to the credit agency (bank etc.) that is holding the paper. Increased interest rates are the way that the fed controls increased credit spending....Companies are correct in being conserative in their spending, problem is that the "market" sees this timidness as weakness in a company rather than prudent business planning. As to IBM etc. and the SEC. The SEC is knee jerk reacting to the public outcry against wall street firms and companies that have been bilking people out of their money for years. You alluded to the fact that the market has been a haven for shisters since the Banyan tree days. I could not agree more. Having this in mind is why we buy companies that PRU comes out with a "strong sell" reco. on. NO ONE in the market makes a reco. without a personal agenda!!!!!!!!!!!!!!!!!! The market is here for personal gain and those few "insiders" that are within the tight circle of those in power, plain and simple. The trick is to find those companies that do not have that tight circle and will perform un relented (you are the pro at finding these) or trading the fast bounce (my area of modest expertise). Either way there is no "vast group" that controls the entire market. The NYSE today had 261 new highs and 61 new lows.......so our odds are better at finding the winners than the losers IMO> Ken