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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (241814)	5/21/2003 6:26:12 AM
From: Earlie	Read Replies (1) \| Respond to of 436258

Joan: Your state would be one of our first targets,..... we would want states where folks know what winter is all about and also know how to get things accomplished. (g) On the stock market front, things are going well (at least for the moment). Delightfully, I was clear of the short side for most of the Iraq war rally (although did get back in too early again). Not that this is a worry, as in bear markets, the remarkable strength and power of the bear market rallies frequently chases the shorts to the sidelines where most of them are fearful of returning "until the down trend re-establishes itself". By the time many start creeping back in, a great deal of downside action has already occurred (ever notice how quickly stock prices fall in those first few days of a downside "reversal?). I do suspect that the downside wave just getting underway is going to be a nasty one. The buck has been smacked, earnings (especially in the tech sector) were lousy in Q1 and will be worse in Q2 and the mo-mo boyz have driven their favs into space. Housing may be peaking, govt deficits are on the rise, and the lay-offs just keep on coming. All of my economic markers continue to head south, especially those that relate to the US consumer, so I remain comfortably short (long a few juniors and golds). I think the airlines, and techs provide lots of targets for this summer's hunting. With luck, the mad financials will not start rolling over until the fall, but who knows for sure. Best, Earlie