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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Alex MG who wrote (16732)	3/29/2003 4:22:30 PM
From: Alex MG	Respond to of 19219

"...people should take with a grain of sand Wall Street's expectations of a tremendous post-conflict rally. The stock salesmen's pitch is stocks have been down for so long that they must be at bargain levels. But their front-running strategy probably won't work. Investors will have to confront the reality that the economy is not bouncing back as fast as had been expected. Perhaps the best clue that things are just not right is the increased number of companies issuing earnings warnings. JP Morgan says the list of warnings has grown longer over the last three weeks. Based on the logic that corporate results are a reflection of the economy, it's safe to assume the economic environment is not good. The crystal ball readers are steadily revising downward their forecast of the nation's growth for 2003. Why are investors such suckers for the bulls' blather? It's no mystery. People find it much easier to trade bull markets than bear markets. They also believe market uptrends can last forever and downturns are only pit stops that give stocks a chance to refuel. This explains why so many do-it-yourself investors have fallen victim to four big false rallies since March 2000. ...stocks will probably follow the pattern of 1966-1982 when the Dow spent 16 years butting its head against the ceiling of 1,000 while struggling through many cyclical bull and bear markets." story.news.yahoo.com