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To: marginmike who wrote (43063)	6/25/2002 3:55:40 PM
From: AllansAlias	Read Replies (2) \| Respond to of 209892

The subjective part of the call is that the economy is recovering. That's not at all clear, let alone "obvious".

To: marginmike who wrote (43063)	6/25/2002 5:41:58 PM
From: reaper	Read Replies (1) \| Respond to of 209892

<<Because good news is sold. The Economy obviously is recovering, Housing is booming. Yet the stocks that should go up are not. >> So what stocks SHOULD be going up? The housing stocks? SHOULD Patterson/UTI have been going UP in June and September 2001 when they reported their peak earnings of 71 and 77 cents (they'll be lucky to do a penny this quarter, btw)? SHOULD Maxim have been going UP in September and December 2000 when they reported their peak earnings? SHOULD the radio stocks have been going UP in March and June 2000 when they were reporting 15-20% same-station revenue growth? Dood, housing is OVER. Bed Bath just did a friggin' 13.2% comp. The homies are all beating numbers by 25-30%. Trex just pre-announced a 50% year-year increase in revenue. Isn't it obvious that this is the analog to Patterson earning almost a buck a quarter on the back of $10 gas, or radio stations getting 20% price increases thanks to stupid dot-com advertising, or companies triple and quadruple ordering analog parts from Maxim. We are in the blow-off stage of the housing market; it has weeks/months left, not quarters/years. The market, in its wisdom, is starting to discount a future without housing, and it doesn't like what it sees. Good news gets sold all the time. As far as I'm concerned you should be ESPECIALLY worried when good news is sold. Cheers