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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (578)	5/3/2005 12:35:06 PM
From: Bill Wexler	Read Replies (3) \| Respond to of 6370

I think that this is one of the most difficult markets to game. You could make a compelling case for equities being expensive as it is certain the credit and bond markets are so precarious that future earnings will suffer. On the other hand, you can argue that a credit blowup scenario has been priced into a lot of stocks, and if Greenspan suddenly gets religion, it could ignite a huge rally - particularly in the financials. There is also no doubt that tech is absolutely hated, despised and blood is certainly in the streets (in rivers). I think a lot of tech is cheap...but you know as well as I do that in secular bear markets, cheap 3 dollar stocks can become cheaper 1 dollar stocks. Your guess to where the general market is going is as good as mine. In the meantime, I continue to invest in companies I like at (what I believe are) reasonable prices.