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To: Les H who wrote (174397)	6/21/2002 3:21:07 PM
From: yard_man	Respond to of 436258

why couldn't we just have gapped to here on the open -- sure would've workd for me <ng>

To: Les H who wrote (174397)	6/21/2002 3:25:31 PM
From: marginmike	Respond to of 436258

I think US consumer demise, and stagflation are not priced IMHO

To: Les H who wrote (174397)	6/21/2002 3:26:29 PM
From: Win-Lose-Draw	Respond to of 436258

Layoffs have largely laid off Not in tech, they haven't. As brutal as it has been, expect a full 50% of remaining startups to close their doors between now and the end of the year, probably taking some of these VC financier-wannabees with them. Then we can begin to rebuild...

To: Les H who wrote (174397)	6/21/2002 3:35:23 PM
From: LLCF	Respond to of 436258

<What's so horrific now? > 40 PE's, Dollar that has a fair value of about 1 yen??? Trade defecite that never corrected and won't without another 60% drop in $$??? What else could go wrong? DAK

To: Les H who wrote (174397)	6/21/2002 3:37:12 PM
From: LLCF	Respond to of 436258

Oh, also, I forgot... at the end of a bear market 3/4's of the BEARS are getting killed buying cheap stocks. When you're hurting, let me know OK? DAK

To: Les H who wrote (174397)	6/21/2002 8:56:15 PM
From: TobagoJack	Respond to of 436258

Hi LES, <<Among the most basic market rules is that the market discounts all known information ... Simply agreeing with others about the world's evident evils won't hack it ... get fully invested fast>> This brave sentiment can be applied with arguably equal probability of success to Japan at any time during the past decade, and Argentina, Mexico and Brazil, now and at anytime in the next 100 years, and even to Pakistan/India, before or after the Final Conflict. Do not do the naturally expected trade. Too easy and it may prove a trap. Chugs, Jay

To: Les H who wrote (174397)	6/21/2002 9:14:13 PM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 436258

Les: Great, another one who thinks things can't get any worse and therefore we go higher. Ken should know better. That was last year's mantra. He needs a different angle. If things are so keen, then why are insiders dumping instead of buying? Could it valuation concerns? Maybe the growth has been spent. Maybe earnings expectations on the growth curve are too high? All his article tells me is that this bear has more to run. It was truly a stupid piece.

To: Les H who wrote (174397)	6/22/2002 12:13:43 AM
From: Fun-da-Mental#1	Respond to of 436258

Les: I agree there are some bargains and sentiment is bearish. But we haven't seen capitulation. What we have is 1) Overvaluation + 2) Loss of faith in the system = a dangerous combination! stockcharts.com[h,a]daclyyay[df][pb50!b200][vc60][iUb14!La12,26,9]&pref=G Anybody just looking at this chart would expect a lower low in a few months, i.e. september/october, which is usually when we have the low for the year anyway. That should be a short-term buying opportunity, leading to a lower high. It seems like such a no-brainer maybe that's why he's calling for a change. But as a good friend of mine once said, "There is no escaping what is most obvious about your situation." Fun-da-Mental