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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Oeconomicus who wrote (21532)	7/26/2004 8:17:09 PM
From: Lizzie Tudor	Read Replies (3) \| Respond to of 57684

I have been bearish this year only. I was bullish (long term bullish) all through the bear and 2002. Recessions don't bother me even brutal ones, in technology. What bothers me is this recovery or lack thereof. The industry is moving offshore and this is our (the USA) main growth engine. A few months ago on Kudlow and Cramer (this was when Cramer was ramming his bullish notions down everyone's throats)- they had the monster CEO on. They tried relentlessly to get this monster guy to admit there were TONS of new jobs listed on monster. He kept saying there was little activity. THEN, he said, "we'll know when we have a pickup in the economy when IT comes back, because IT is the heart of the growth engine of the USA". Basically that was the gist of his point. Well guess what, we've offshored IT. That means we have lost any notion of a real recovery. This recovery is a liquidity driven event only. Had IT recovered like everyone thought it would in mid/late 2003 we would have a bull market now because technology would be getting bought and hiring would take place, then the recovery cycle would be here.