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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Neeka who wrote (305873)	10/8/2002 2:01:53 PM
From: Baldur Fjvlnisson	Read Replies (2) \| Respond to of 769667

Non-stop destruction. Investors who thought the market would have to recover after $4.5 trillion in value disappeared through 2001 have had their confidence crushed as they watched an additional $3.9 trillion get wiped out so far this year. Aggressive selling by large investors. Big mutual funds are selling into the rallies to make sure they have enough cash to handle redemptions, says Ed Wedbush, CEO of brokerage Wedbush Morgan. The swings are amplified by computerized trading — which triggers selling or buying when stocks hit preset levels, he says. Up to half of the New York Stock Exchange's trades are coming from automated programs vs. the typical 20%, he says. Bad earnings news. There have been 30% more earnings warnings this quarter than last. No panic. Investors are less fearful than they were when the market last bottomed, according to the Chicago Board Options Exchange volatility index. That's bad because rather than getting the slide over with a crash, the declines are gradual and constant, says Todd Salamone of Schaeffer's Investment Research. "There are still more bulls than bears," he says.