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To: im a survivor who wrote (13153)	7/2/2004 12:35:22 PM
From: Lizzie Tudor	Respond to of 13815

its not the rates, it is the jobs growth and revision in GDP + the large number of tech warnings: elx, ankor, webm, yahoo downgrade etc

To: im a survivor who wrote (13153)	7/4/2004 3:27:02 AM
From: pbull	Read Replies (1) \| Respond to of 13815

Keith, there was a big tax break for capex spending that either has ended or is about to end (not sure on exact dates). So when Lizzie says stay away from infrastructure, there's little or no monetary incentive there any more. Where I work, we bought all new Dells this spring and upgraded with an Avaya phone system and some new software, but that's over now. Wal-Mart is still installing their Avaya system, and that will take time. What I'm seeing is wireless Web everywhere. Every "hip" pimply-faced kid where I work has to have one of these things. NOK wasn't able to make them fast enough, and the stock got hammered. I see NOK now a lot like MOT last year _ a big cap value play that should work out well _ just don't ask me when. I'm going to stick with my big-cap theme while AG is raising rates. I don't want to get caught in a liquidity squeeze. The new stuff will boom in the next cycle. As for jobs, the area between the Mississippi River and the Rocky Mountains, except for Texas, Oklahoma and St. Louis, is in decent shape. Dallas is a mess; Houston is doing OK, in part by luring energy companies from Oklahoma. And you can make $100,000 a year working in Kuwait these days. So, it's not all bad, but good-paying jobs are scarce and still highly-selective. PB