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To: lisalisalisa who wrote (175708)	6/26/2002 4:21:16 PM
From: yard_man	Respond to of 436258

bot more puts at the close --- felt better after my daily dose of this >>New homes sold like hot cakes in May, the government said on Wednesday, far above expectations, as consumers poured money into housing instead of playing the falling stock market. Durable goods orders rose in line with forecasts in a report welcomed by analysts as it contained signs of a modest pickup in business spending, seen as crucial to a strong recovery. However, the good news was ignored by financial markets, where stocks plunged after U.S. telecommunications giant WorldCom (NasdaqNM:WCOM - News) revealed it had inflated its profits by $3.8 billion, one of the largest accounting scandals in history. And the news only encouraged investors to keep selling the dollar, sending the currency to a 28-month low against the euro. Nevertheless, analysts said the economy is on its way to recovery and ruled out prospects for a double dip recession. "I think that the downside risks to the economy are far less than what most people realize and certainly less than what the market thinks," said Mark Vitner, senior economist at Wachovia Securities. "I think there's very little chance that the economy will experience a double dip." <<