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Pastimes : Bottom? -- Ignore unavailable to you. Want to Upgrade?

To: pezz who wrote (10)	6/30/2002 9:14:14 PM
From: long-gone	Respond to of 28

CNN Money How far to the bottom? Capitulation is the latest buzzword -- evidence enough that it hasn't happened yet. June 28, 2002: 12:50 PM EDT By Justin Lahart, CNN/Money Staff Writer NEW YORK (CNN/Money) - Even before markets opened Wednesday, pundits were on TV yammering about "capitulation," that perfect storm when disgusted investors sell like mad as others swoop in to fuel a rally. News of the WorldCom scandal had broken (apparently the biggest accounting fraud ever!), and when the Dow dropped 140 points in the first 15 minutes of trading, it did indeed feel like the final washout. And lo, late in the day, the Dow rallied back to within spitting distance of breakeven, and the Nasdaq finished slightly higher. Thursday, the bounce kept going. So, after over two years of losses, is that it? Has the selling that would finally put a floor under stocks finally come? "Don't back up the truck," says Hilliard Lyons,(cont) money.cnn.com

To: pezz who wrote (10)	7/2/2002 10:44:48 PM
From: long-gone	Read Replies (1) \| Respond to of 28

No, damn it, no, this can not be the real thing! While I'm sure a real absolute bottom exists this ain't it! It wasn't the other day, It can't be yet. The good ones ain't cheap, heck, some of the crap is still VERY expensive. Sure, IBM at 60 is getting there, but based on forward earnings it may not be R.F. cheap! One of my every run tech plays - TXN - still must drop another $6.00-8.00 before it is really "cheap" & then there should be a semiconductor recovery 2-6 quarters away. They must first be HATED!