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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (64955)	7/20/2002 8:51:39 AM
From: Sam Citron	Respond to of 70976

OT JNJ is a darling stock with an outstanding reputation. In these skeptical times, it is not surprising that investors will sell first and ask questions later when they hear the words "federal probe". JNJ is down only about 35% from all time highs recorded earlier this year. Nothing amazes me anymore. Great read in Barrons today, especially Abelson's blast of AG and Jeremy Grantham's assessment: "There is no doubt in my mind that the next big mistake will be value managers investing too soon." online.wsj.com

To: Gottfried who wrote (64955)	7/20/2002 9:24:08 AM
From: michael97123	Respond to of 70976

EDIT i should have read zeev first investorshub.com G, Matthew is coming over at noon. Zeev implies and i am NOT quoting here, i am just inferring....that given the extent and size of the fall he may revise tops and duration of the summer rally. I am guessing that if this blow off ends by midweek we might get that 40% move in ndx and comp that could get us back from a low 1280-1300 to the low 1800s. I have heard other talk about 8/15 as the day of reckoning for ceos. JNJ is a perfect example of the market devaluing earnings and stock price in anticipation of major scandals to come. As ceos sign off those fears will dissipate. Also big govt spending on tech apparently is in the works for 4th quarter. DOD starting in September. Bush and Greenspan will do everything they can to spark the economy and thus the markets. We shall see. Hope you are out boating today. mike