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To: tcmay who wrote (166786)	6/21/2002 3:50:56 PM
From: fingolfen	Respond to of 186894

And a similar counterreaction happened in 1987, though there the bounce happened so quickly that most folks forgot the Apocalypse Dow events and moved on. I remember that day... ugly... Today the conventional wisdom is that only fools are in the stock market. This is why stocks have collapsed so badly. I think that sentiment will continue until businesses start spending money again. The consumer has kept this economy propped up at this point. At least from a technology standpoint, 2000 was a classic "overbought" scenario. Everyone had over bought (be it stocks, infrastructure, or what not). The reaction at this point is obvious. My question is when do people realize that it's okay to start spending money again? It seems like the U.S. is trying to inch its way out of the recession on the backs of the consumer, and I'm not sure that's going to get us back to solid growth. Some industry is going to have to lead, and then others will follow... Unfortunately it looks like everyone's "staying on the porch" at this point. (Though the "point and figure" bozos no doubt have their theories. "It was also shown by looking at the head and shoulders formation in Yahoo, divided by the MacClellan Oscillator overlaid with a Fourier transform of the fourth Elliott Wave!") rotflmao And here I thought it was a double break point for MSFT.