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Technology Stocks : Jabil Circuit (JBL) -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (6094)	10/4/2002 3:04:32 PM
From: Asymmetric	Read Replies (1) \| Respond to of 6317

Days of Redemption By James J. Cramer - 10/04/2002 Meltdown after meltdown. That's what it seems like. Why is it happening? Why are we seeing tremendous swings and big shifts and declines that are never staunched? You've come to the right place. What I am seeing on my screen is the total tip of the iceberg. There are funds out there that are simply bleeding from the eyeballs, just as my fund was on these type of days four years ago (no secrets -- all chronicled in nail-biting fashion in Confessions.) You are seeing the bleeding in the form of the Sun Micros and the EMCs and in so many other stocks that just are getting beaten everyday. We are seeing redemptions, gigantic redemptions as the public awakens to the inability of some funds -- Munder, Invesco, AIM, Janus -- to get control of the losses. You are seeing forced selling, a selling that will be denied up and down -- as it has to be by these folks. They have no interest whatsoever in telling the truth, because telling the truth will just cause further runs. The mutual fund industry is in a precarious moment. The individuals are finally cashing in not just their discretionary money, but their 401k(s). These days will be very tough because you are getting your statement in the mail right now, and your statement reads like someone took a gaffer and gutted you with it. I can't emphasize how much damage the growth-mutual funds have done to their users. They have crushed people, just crushed them, and now the customers have had enough. Which is why you have to be careful bottom-fishing because you might be bottom-fishing an endless Janus or Invesco order. And I mean endless. (Ughh! Jabil at 12.66 right now, down 13.9% (-2.04)) Peter