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To: westpacific who wrote (5938)3/11/2003 9:46:16 AM
From: Softechie  Respond to of 11447
 
MARKET TALK: Have We Learned Nothing?

11 Mar 09:34


Edited by Thomas Granahan
Of DOW JONES NEWSWIRES

(Call Us: 201-938-5299; email: tom.granahan@dowjones.com)

MARKET TALK can be found using N/DJMT

9:34 (Dow Jones) Analysts are still too confident about their earnings
forecasts, reckons Merrill Lynch's chief U.S. strategist Rich Bernstein. He
notes the range of estimates for S&P 500 companies is again unusually narrow,
indicating a "tremendous" amount of confidence, which he thinks is unwarranted.

Analysts aren't as sure of their numbers as they were at the peak of the
bubble, but Merrill's research shows they're still pretty confident, especially
if the investment bank's 50/50 odds of a double-dip recession prove correct.

(NPB)



To: westpacific who wrote (5938)3/11/2003 10:04:11 AM
From: LPS5  Read Replies (3) | Respond to of 11447
 
It is gonna take a series of 90% down days to get any buying to come into this market.

That's interesting. With the Dow at 7588, a single "90% down day" will put the index at 759.

A "series of 90% down days" - which I'll take as meaning, oh, 3 days? - and you're talking about a Dow of 8.

Wow.


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