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Strategies & Market Trends : Take the Money and Run -- Ignore unavailable to you. Want to Upgrade?

To: Petrol who wrote (9832)	7/21/2002 10:32:30 PM
From: AugustWest	Respond to of 17639

Dick Grasso is a little weasel IMO. <<The Aug. 14 deadline is also looming over the marketplace. And after the scandals at Enron, WorldCom and other companies, investors are worried about what new bombshells might drop when executives put a stamp of approval on their company's results. But Grasso played down such concerns. "I'd be very surprised, if any of the major companies ... would, in essence, renege on their previously reported financial statements," he said.>>> Sure that's because most companies will have reported by then. In essence this Aug deadline gave them one more Q to bury a bunch of garbage. We'll see what happens in Q3 and beyond. Which BTW< I read a couple things over the weekend that seemed an awful lot like laying the ground work for no second half recovery! Gee, imagine that! <<Speaking on the CBS program "Face the Nation," Sinai also said he saw a chance of a temporary reprieve from stocks selling but they may lose even more ground. "We still have significant downside risk to our equity markets, even from these levels, I'm sorry to report another 8 or 10 percent possibly down before we could bottom out and then move up," he said.>> Oh, he's not talking another bottom, he's talking about "THE" bottom. 10% puts us at 7200. Go ahead, look at the Dow stocks and their prices as of Friday's close. which ones of those would you buy right now 10% cheaper? MSFT? GE? IBM? MMM? Here's the list finance.yahoo.com@^dji Now how about 20% discount from Friday? We're getting closer. At least I would begin to spend some time looking at more than charts. <<Goldman Sachs strategist Abby Joseph Cohen was more optimistic, saying stocks have absorbed much of the bad news. "I can't give advice to all of the different investors out there, but would I say that I think that stock prices are today priced too cheaply," Cohen told "Face the Nation.">> Does she ever change her script? <<In several public appearances recently, President Bush has also emphasized some recently positive economic signs in an effort to shore up investor confidence.>> If our economy has been in recovery Why is it so important to press the confidence issue? Could it be because Bush is holding onto a hope and a prayer? <<Even Federal Reserve Chairman Alan Greenspan was only able to bring about a momentary pause in the sell-off when he testified on Capitol Hill last week, saying the corporate accounting mess had not shaken the core foundations of the U.S. economy.>> Is that suppose to give me confidence that a recovery is under way? I'm also way pissed at how analysts continue to tell the public that stocks are cheap enough not to get back in. I wish for once these highly touted morons would look into the camera and tell people not to invest right now But rather to SAVE their money. Fucking just save it! Is the word saving so unfashionable in the 21st century? But no! Instead of giving prudent advise they are telling people to roll the dice and hope things get better in the next five-10 years. Actually the way they talk it sounds more like invest now for the hiostorical(or better) returns. I read somewhere since '97 the consumer has shifted from saving to spending. Surely this didn't happen overnight And While I didn't give a shit about the econo in the 80s and early 90s, I saw and made mental notes of it. Yeah, blah blah blah! Sorry for the rant folks. Still didn't get a fraction of it out of my head yet<ng>