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To: Giordano Bruno who wrote (346013)	10/19/2007 12:26:13 PM
From: RealMuLan	Respond to of 436258

>>Garzarelli bullish.<< 4 reasons for this clown to be bullish, each contributes 25% to her model: 1. Earning decline has hit the bottom, so no where to go but up; 2. Fed will continue to cut; 3. SP 500 is 25% undervalued; 4. Sentiment is neutral (this is the only one has not got 25% for her bullish model), so she is about 87.5% bullish<g> I have to differ on the first one, I saw the earning decline has just started. It will get worse, maybe not in Q4, but definitely in the two quarters after Q4. A lot of tech stocks got their earnings from channel stuffing and building inventory. They will have to cut their production in another quarter or two. >>Poole says housing crisis unprecedented.<< On a balance view, he should also have mentioned this housing bubble was unprecedented too. The higher the mountain, the deeper the valley. Why is that so hard to understand and surprise him?