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To: Knighty Tin who wrote (175494)	6/26/2002 9:37:57 AM
From: reaper	Read Replies (2) \| Respond to of 436258

Briefing.com getting bearish on us; probably time to get long. Market Update 9:28AM: Little question that the equity market will begin the day on a decidedly lower note.... The implications of the WCOM accounting fraud are far-reaching as investor confidence in corporate accounting has been undermined even further... The failing confidence is reflected in the weakening dollar, the jump in gold prices, and the rally in the Treasury market... Though there will be a tendency to think today's sharp decline is the proverbial climactic sell-off traders have been waiting for, Briefing.com not so certain the market will be so casual in the treatment of the WCOM situation... Sure, there could very well be some bargain hunting interest that emerges, but it isn't likely to be the start of a sustained, V-shaped recovery in equity prices as there is little faith right now in the quality of earnings from U.S. corporations... In short, the WCOM situation has widened the credibility gap that has afflicted the U.S. market throughout the year. finance.yahoo.com Cheers