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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: chaz who wrote (62392)	11/11/2002 4:33:43 PM
From: larry	Read Replies (1) \| Respond to of 77400

Chaz, Well, plain and simple, if all companies report earnings after stripping pension fund tricks and expensing options, the S&P is probably worth 300 points, a nice 65% haircut from current level. That was also predicted after the S&P broke the neckline at 944 after forming a very bearish long term H&S pattern early this year. I have no problem with getting a 60% haircut for my investment from current level. However, it will very likely cause severe damage to those retirees, and those close to retirement. Let alone it will cause foreign investors withdrawing from the US market, inflation, significant increase in the national debt, and also, likely a crash in the housing market. If that happens, US will be done for the next 20-30 years. That's why I believe even if those with power recognize the problems, they will try their best to smooth out the problems, or really don nothing about them. BTW, if we get a 10-15% drop because of fear of the war, I see another nice short term trading opportunity on the horizon (to go long). I predict that we will get these crazy rallies once every 1-2 months from now on even if the trend is to go much lower. I am really beginning to enjoy these meaningless bear market rallies. It's more fun than those days when YHOO! could gap up 10% on a daily basis. good luck, larry