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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (21546)	7/23/2002 1:00:05 AM
From: Maurice Winn	Read Replies (3) \| Respond to of 74559

Jay, I am envious that you get to roam around China with impunity, understanding the language too. I sit here ignorantly in the middle of the ocean. Which actually is quite a good place to sit when hordes of people join the Matrix of Malevolence, which many seem to be doing these days. I would love to be in Beijing, counting the CDMA subscribers yakking away on their phones. Gawping at the them all in the shops. Meanwhile, I'm studying for my Saturday test and notice that somebody is saying that GE has hairy legs. <JIM: So, we could have a situation where you have, let’s take a company for example, General Electric, which many people think of as an industrial company, I think General Electric is a financial company. JAMES SINCLAIR: It is a financial company. It stopped being industrial years ago. It’s purely financial and it’s a leasing company primarily. JIM: They have over 100 billion dollars in derivatives, if not more. A lot of which has been… JAMES SINCLAIR: The third head-and-shoulder in General Electric broke at $30. Okay. Take a chart of Enron and lay it over GE and gasp. Now GE is a very significant company and certainly not an Enron by any matter of means. But look at, just take the chart, take Enron, then look at Enron had 3 head-and-shoulder neckline breaks before it collapsed. General Electric, technically undergirded, is in a very dangerous condition. And it’s a financial company -- a company that couldn’t stand what may happen in November. Why weren’t their earnings increasing? Why with all the good stories coming out of its new president does the company do nothing but decline? > Meanwhile, I have to confess to enjoying the market rout [which pleasantly enough seems not to be dragging my beloved QUALCOMM down too much - something to do with cash in the bank, dramatically growing sales, 3gtoday.com profits and all that good stuff I suppose]. I'm enjoying it because of a little stash of cash which is waiting to be converted back into something a bit more robust than a greenback. I had been expecting a market crunch but did NOT expect such a serious one. Fortunately, I cleared the decks and made arrangements just in case such an event came to pass. So, let it rip. Mqurice