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Yes Ira .. I think that is true for a certain percentage of high tech firms
but can you see a MMM investing in an AMZN? The high techs were investing
in each other for sure and this contributed to the bubbleburst. I'm just
suggesting that overall, the markets have sold off and this descrease in
market cap has been a major catalyst in lower earnings across the
board. The earnings drop didn' t precede the 70% drop in the NAS .... the
first half of that happened without adverse earnings reports. Oh well,
as so many have said in the past,... "who cares?" We make money
regardless of where it goes as long as it goes.
Bob
At 07:16 AM 4/23/2001 -0700, you wrote:
>could it be that a lot of their earnings came from their stock portfios
>and when they went into the sewer so did their earnings. Ira
>
>BobsKC wrote:
>>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 |
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