To: Terry Whitman who wrote (37729 ) 7/8/2002 4:49:37 PM From: StockOperator Read Replies (2) | Respond to Terry, "this time is different." A dangerous phrase to use but history has shown that there are times when valuation models get thrown out the window. The period prior to 2000 showed us that those extremes could be carried to the upside, whereas, now with companies like LU, CIEN, CRMC.... are showing us the extreme to the downside. A process, imo, that is not finished. Think about the whole process of this bear market and what really needs to take place before a serious bottom can take place. First of all you would expect to see more analysts and W.S. "gurus" falling off the side of calling a market bottom. Perhaps even seeing some of the long term bulls like Batman or Cohen becoming more skittish with their optimistic numbers. Instead, we have seen guys like Hayes, Biggs, Stack, Hyman and Yardeni actually joining the bullish bandwagon with their calls that a bottom was here. The amazing thing about a few of these guys like Stack is how long they touted their bearish arguments, citing how far these markets could fall based on normal historical valuations. A level we are far from based our current pe's.
