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Could it have anything to do with all the cookies in the cookie jar having
been eaten to prop up earnings? IMO, the bull market saw earnings and sales
manipulation taken to new heights - far beyond what I remember during the
bull market which ended in 1972.
Earl
----- Original Message -----
From: "BobsKC" <bobskc@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, April 22, 2001 11:25 PM
Subject: Re: [RT] Another Panic Cut Sets Stage for Rate Hikes Next Year
> Still, examine why earnings fell. Could it be the stock prices fell and
> borrowing power went out the window? Could it be that large firms slowed
> buying from mid size firms who slowed buying from small firms who showed
> buying from micro cap firms? Net result is a down market falling further
> due to poor earnings from all size businesses and all the bad news due to
> stocks selling off. Of course, I'm not talking about the maze of dot.coms
> thrown together so a couple of techie types and their attorney could rip
> off a few mil while the craze was on. They're going away as they should
> and as they were intended to do by the organizers. I still say the tail
> is wagging the dog.
>
> Bob
>
>
> At 12:55 AM 4/23/2001 -0400, you wrote:
>
> >When the Fed cuts rates it gives an enormous sugar rush to the markets,
> >but fails to address the real problem which is corporate earnings. The
> >Fed only tweaks short-term interest rates which effect borrowing. Cheaper
> >money isn't going to dig the "dot bombs" or failing telecoms out of their
> >pit, so don't expect any long-term effect in stock prices.
> >
> >-- John
> >
> >--
> >
> >__________________________________________________________
> >
> >John T. Nelson | John's Trading Journal
> >trader@xxxxxxxxxxxxxxx | http://trader.computation.org/
> >__________________________________________________________
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