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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (13561)	7/19/2002 4:43:31 AM
From: nsumir81	Respond to of 19219

Smart money is always taking the other side of the trade-hence prices have been going down for 2 years now. btw did you buy WCOM? Convertibles a la Buffett? I agree out of the ashes can come future stars. My point was what is the impact THIS time around? I need to do homework. Hence I said, I wonder.

To: J.T. who wrote (13561)	7/19/2002 7:47:46 AM
From: KyrosL	Read Replies (2) \| Respond to of 19219

JT, I agree with you that a double dip is now less likely than a continuing, though not very robust, recovery. The reason is the fall of the dollar without a rise in long term interest rates, and the virtual guarantee by the Fed that they will continue to keep short term interest rates low until employment and capital spending revive. However, I disagree with you about WCOME. WCOME is worth and will be worth ZERO. There is no way that WCOM bondholders are going to be made whole -- the only scenario under which WCOME is going to be worth anything. Also, I think that technology is going to underperform in the next up cycle. It is still way overvalued. I think the bargains of a lifetime can now be found among utilities. Kyros