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To: Lizzie Tudor who wrote (151172)	1/1/2003 4:25:28 PM
From: hmbsandman	Respond to of 164684

But wait, the new bull won't start until everyone is bearish..there's still those 2 holdouts, no? ;) Have a great New Year all! Sandeep

To: Lizzie Tudor who wrote (151172)	1/1/2003 6:15:10 PM
From: fedhead	Read Replies (1) \| Respond to of 164684

Don't you think that the markets bieng down 3 years in a row is sending a clear message that something is very seriously wrong. Most people seem to be ignoring that fact. Look at all the magazines like Fortune, Worth etc. All of them have their stock picks for 2003 , hardly the sentiment you want to see at the beginning of a new bull market. This bear market wants to go down with most people still on board just like the titanic did. Anindo

To: Lizzie Tudor who wrote (151172)	1/1/2003 10:44:19 PM
From: BGR	Read Replies (2) \| Respond to of 164684

The job market in the 128 area is not doing that well unfortunately, considering all of s/w, h/w and biotech. No wonder rents are falling. Lot of small companies are simply running out of cash and closing shop. Lay offs are still continuing. My particular sector (pharmaceutical applications) has done well, but then it is technically a recession proof industry. My (anecdotal) conclusion is that there is raging deflation going on. Everyone in my circle have refinanced and saved in the neighbourhood of 1k per month (given the pricing of the Boston market). Food prices are steady, but household help - like child care, landscaping, cleaning etc. which is very relevant for the dual income family circle that I move around - have fallen by some 40% or so. Telephone, cable and internet costs have dropped by some 50% because of the bundling that RCN and AT&T are both providing. Clothing prices seem to be permanently in a state of 30-50% off, and brand name retail outlets are drawing some pretty significant crowds. My own holiday shopping was done at half the cost for the same value of purchase as last year's. The stores all around town were plastered with for hire ads, but that is possibly a holiday effect. What does that mean for the economy - I have no idea. However, those who have kept their jobs are experiencing a significant rise in the standard of living from deflation, even as salaries stay flat or only slightly higher. Of course, the job guarantee is non existent, so people around me are saving much more than they used to in percentage terms, while maintaining or even improving the standard of living. There is some kind of gallows humor going around, and people are going on vacations right before the next round of lay offs are due to be announced. You have to stay sane, you know? Personally, I have kept my ESPP purchases for the last 3 years, and am down some 10%. I haven't sold a single ESOP either - of course selling the ones from 2000 and 2001 make no sense as they are underwater, but the 2002 ones are quite deep in the money for me, and for many others like me. (Actually 2001 ones are not that much underwater either.) If - and that's a big if - the market goes up, some people will stand to make a lot of money. My move in my 401k from S&P to NASDAQ is still underway, and I am down by about 35% on average, factoring in the new money that I kept putting in. It feels to me that the net result is a deeper gap between the rich and the poor; those who kept their jobs and those who didn't. If I keep my job - and my wife keeps her job - for the next 3-5 years, I will be happy. -BGR.