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Strategies & Market Trends : Groundhog Day -- Ignore unavailable to you. Want to Upgrade?

To: Challo Jeregy who wrote (1513)	4/18/2002 12:18:53 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 6346

hmmm, well, vix is spiking up trin is at 1.43 Tick is negative no follow through on the Tuesday rally My feelings are that Tuesday was an options related anomaly and that the violation of the channel can pretty much be ignored. I'm still stuck on the fact that the BPs are at high levels and the VIX is still at low levels. Lot of companies are beating earnings estimates, but I am pretty much ignoring that. I don't believe that the stockmarket can truly find a bottom until the economy sees a bottom. For this, I am looking at the topline numbers. I just haven't seen any real indication that the topline numbers are getting better...or even "less worse". When we finally do hit bottom, we should have one hell of a lean mean money making machine (in general). Layoffs and cutbacks are still occuring regularly. I know of several Silicon Valley companies...biggies, that are doing stealth layoffs. And they have been doing them since January. So why would these companies do stealth layoffs? My belief is that they do it so as to not further spook the shareholders. Otherwise, they would be announcing them as proof of how they are cutting costs. The crux of the story is, I am still short.