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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (188922)	5/20/2004 4:45:48 PM
From: tejek	Read Replies (2) \| Respond to of 1578095

My God, its one stupid mistake after the other. What the hell do these people to well? "Dispute with Chalabi cost an opportunity to sway Iraqis, congressional investigators say " boston.com "US debt limit must be raised by summer-Tsy's Snow

To: Road Walker who wrote (188922)	5/20/2004 5:25:00 PM
From: tejek	Respond to of 1578095

Without Stimuli, This Market Won't Go Up By James J. Cramer RealMoney Columnist 5/20/2004 8:14 AM EDT Market Analysis We won't go up just because we've stopped going down. Technical indicators won't tell you why the market should head back up.Oil and Iraq are the key factors. Like it or not, something has to happen positively if we are going to go up. We are not going to go up simply because we have stopped going down. The market isn't some SuperBall that switches direction with alacrity. The market responds to stimuli, and the stimuli still ain't so hot away from the earnings. All of the more technical indicators I follow -- Chartcraft's Investors Intelligence bull/bear ratio, the Merrill Lynch put/call ratio (which I monitor from Doug Kass' writings, who, by the way, is the hottest manager in the universe this year, and if you are not reading his diary you are simply missing the best ideas out there -- click here for more info) and the S&P overbought/oversold oscillator -- are super at helping you figure out when the market will have a hard time going further down. They are not, however, that helpful in figuring out why the market should roar back up. Yet, that's what was happening Wednesday, despite no good macro news. To me, that -- along with the fact that it was options expiration Wednesday, a true whipsaw day -- told me that the rally was unsustainably strong. Let's not lose sight of what has to happen. We need to see oil take its time to $50, not gallop there. We need to see the president take a break from filling the petroleum reserve for a couple of minutes. (I am now convinced that President Bush has a death wish about this election, he is so out of it when it comes to oil and gas. Even the Democrats know what is right to do.) And we need to see something -- anything -- happen in Iraq that tells you we have resolve. Without those things, what say you we retest the lows as soon as the oversold condition is worked off?