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Ah! a prediction to the return of 1929. Must be close to a bottom. Let the charts tell you when.
Ralph Volpe wrote:
> OK, I was the Bull three weeks ago, but as I said last Thur., I'm
> reversing. I keep thinking about all the jobs that are still being lost
> and the fear most everyone I talk to has about their employment. I was
> even sent an email from the company I worked for, and they announced an
> across-the-board wage cut of 10% and indicated that the policy of
> warning employees of layoffs three months in advance was being cut to
> one week. Under such circumstances, can consumer confidence hold up?
> Vacation travel is still in great jeopardy; hotels are hurting
> everywhere even though they're offering great incentive packages. This
> is rippling forward to affect restaurants, taxi services, booking
> agents, resort owners, and others in this industry. I'm sure home buying
> will also be hurt, and this will affect all the secondary industries,
> such as appliance and furniture manufacturers and retailers. With
> diminished air travel, this has to impact sales, as well. The
> entertainment industry is being hurt and the anthrax scare is causing
> additional disruptions. I'm struggling here to see any positives. Am I
> wrong or is this beginning to look like we have a real problem?
>
> --
> Ralph => E-mail => rjv@xxxxxxxxxx
>
>
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