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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (5097)	8/23/2002 1:27:36 PM
From: crdesign	Read Replies (1) \| Respond to of 89467

Me too :( /Dim Tim

To: Sully- who wrote (5097)	8/23/2002 7:38:58 PM
From: stockman_scott	Respond to of 89467

Don't get your hopes up, analysts say of the market Friday, August 23, 2002 COX NEWS SERVICE ATLANTA -- The stock market's latest rally continues to gain momentum, but it has some strategists worried that investors will go overboard only to be disappointed again. With the Dow Jones industrial average moving back above 9,000 yesterday and the Standard & Poor's 500-stock index recording a bullish advance of more than 20 percent since July 23, such enthusiasm may be hard to quell. But some strategists are cautioning investors against expecting a quick, steady rise in major stock indexes anytime soon. "We emphasize that we do not expect a new bull market phase to begin forthwith," Salomon Smith Barney strategist Tobias Levkovich said yesterday in his latest analysis. He said history shows that, once a bear market has ended, "it takes time to wring out all the excesses" caused by the previous bull market. Analysts at Standard & Poor's Corp. said "it will take time to repair the significant technical and psychological damage" caused by the bear market. And given the "many failed rallies" that have occurred over the past 30 months, investors "will find it hard to muster a great deal of courage" to re-enter the market, the S&P analysts said. The Dow closed yesterday at 9,053.64 with a gain of 96.41 points, or 1.1 percent. The Dow's last close above 9,000 was 9,096.09 on July 9. The blue chip index has risen 17.5 percent since July 23. The 13.34-point, 1.4 percent, gain by the S&P 500 to 962.70 yesterday pushed that index to a gain of 20.7 percent since July 23, meeting Wall Street's informal definition of a bull market as any rise of 20 percent or better.