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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (96481)	7/20/2002 12:26:56 PM
From: Eashoa' M'sheekha	Respond to of 99280

>>>inability to assure them of faster profit growth<<< What company in their right mind would say they expect faster growth in this env.? Very very few. Only those who are absolutely certain with booked contracts ready to be signed etc.The remainder are playing the cautious side saying flat or slightly lower.This protects them because no one will complain about an upside surprise , such as NXTL had last week..etc..etc..etc… >>>Friday was also an expiration day for stock options, which often has scant effect but this time lent a downward bias, according to traders.<<< Expiration day is often the most volatile and crazy day there is.Gee, ya think DOW 8000 had some hefty bets placed…naw…couldn’t be. >>there was thinly-supported talk that mutual fund investors were redeeming their holdings en masse, causing managers to sell stocks indiscriminately. While such talk often accompanies sharp sell-offs, this redemption chatter had, at minimum, a negative psychological impact.<<< This thinly-supported talk is having thickly supported influence lately , all in line with the Hedge Fund agenda that NO financial press nor political entity appears willing to address.Their influence is huge and growing and may cause an actual crash one of these days.Right now they are managing it down , but things can get out of hand if they are not careful.Maybe that’s what they want , like some crazy bastards that hang out on SI. I assume they believe their positions will be safe when the mobs of gun touting vigilantes come a knock’in down their doors…heh heh heh >>One proximate cause of Friday's nasty beating inflicted on the Dow was a report that Johnson & Johnson was the subject of a Federal investigation into manufacturing practices at a plant that makes its anemia drug Eprex, which has been shown to cause worrisome side effects. The drug accounts for some 4% of company sales, and the company offered few details on the focus of the investigation.<< Too funny. 16% haircut on a manufacturing process of a 4 % component of sales. The scare tactics are working..that’s fer sure. Bottom line here ( not necessarily bottom of market here ) is as I’ve said before. This is the bubble in reverse and the bottom blow-off , like the top blow-off in March 2002 , is happening as we watch. This month will prove things out one way or the other.I believe we stare THE bottom squarely in the face this month , and that’s a pretty committing call for me lately. As for rallies or bounces…they will be short and sharp till most realize what has happened. For those not actively trading, I would stand aside and watch this all unfold and use it as an opportunity to learn the market dynamics…or go fishing…whatever bakes yer potato…..