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We went from caring about little other than interest rates to caring about
nothing .. insanity ruled .. now, we care about earnings again. While many
companies are beating estimates, those estimates are, in many cases, a tiny
fraction of what their earnings were in the hay days .... I'm not saying
they won't or can't develop earnings that will allow price increases while
still maintaining pe ratios that are reasonable, (15 - 20), but they will
have to prove it. Either way, as traders we can make money but it is a
time to be fleet of action and without too much conviction in any
direction, at any time.
All best,
Bob
At 10:12 PM 1/22/2003 -0500, you wrote:
>Dear Bob,
>
>Agreed about stops....At the same time, from people I deem reliable
>and not extremists plus my own observation, I think a new bull market
>has started. Just like all bull markets, it is not going to be
>straight up. It will be an up move and a correction.
>
>I have been monitoring earnings in the WSJ since the beginning of the
>year and close to 70% are increases in revenues and earnings. Even
>what was reported today on CNN was not all that bad.
>
>When Iraq is behind, I believe We Rock.
>
>Of course I am hedging a bit to be safe...
>
>John
>
>
>
>------------------ Reply Separator --------------------
>Originally From: BobsKC <bobskc@xxxxxxxxxxxx>
>Subject: [RT] tomorrow
>Date: 01/22/2003 09:35pm
>
>
>The futures look like I may have not had to take that loss but a stop
>is a
>stop for me. Stops aren't negotiable .. they are religious. I hope
>everyone has a great day tomorrow.
>
>Bob
>
>
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