Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: BirdDog who wrote (53479)	7/2/2002 7:42:39 PM
From: stockman_scott	Respond to of 65232

Briefing.com - General Commentary Updated: 03-Jul-02 As if investors didn't have enough to worry about what with Worldcom (WCOM) on the verge of bankruptcy, and the long-awaited earnings recovery being pushed back for at least another quarter, they're now being told to brace for a possible terrorist act over the holiday weekend... Just makes you want to rush out and buy stocks, doesn't it... No?! With the market bombarded by bad news virtually every day, investors simply have no reason to buy... The only rewards in this market are going to those investors playing the short-side... It's been that way for the better part of 30-months, and Briefing.com can't see anything on the horizon to change this pattern. In order for the relentless retreat to mercifully come to a close, investors must be given a compelling reason to buy stocks... Peace breaking out all over the world would be a nice start, but that doesn't appear too likely... Dirt cheap valuations also might do the trick, but in order for that situation to occur the indices need to fall by another 20% or more... At the rate we're going so far this month, that might not take much longer... Restored confidence in corporate financials would be a helpful, but only time will heal that wound... How much time is debatable, though it's a safe bet that it won't be any time this week, or this month for that matter... Finally, earnings could start to ramp higher on a surge in IT investment... Yeah, and the Cubs could win the World Series. Which brings us back to what we've been saying for weeks now -- without a material shift in the fundamental backdrop buyers will remain on strike, and any gains we do see will be small and short-lived. Robert Walberg