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lurqer

08/31/02 7:35 PM

#21282 RE: federal reserves #21281

I hope he and the body of TECH investors here don't mind.

You point out the direction of some profits and from this eclectic board I doubt you'll find many "minding".

lurqer


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Zeev Hed

08/31/02 7:59 PM

#21284 RE: federal reserves #21281

Fed, I doubt anyone mind at all, actually, i think most appreciate your input. Right now, I don't agree with you (except for the very short term), but differences of opinions is what makes markets. I see the "breakout" in the CRB as just another false local breakout, induced mostly by the gold and energy complex. I don't see inflation per se as a major threat. I see the dollar eventually weakening due to our atrocious balance of payments deficits, but that weakness will not bring more than 2 to 4% inflation over the next two years, and once the "Iraq" risk premium on crude will be taken off, some of that will be dissipated as well. As for stock, I still think we are in an unfinished primary secular bear market. The range for the period of 2000 to about 2010, and possibly longer is still what it was more than two years ago, ( #reply-13483082), namely 6000 to 13,500 and 950 to 5300, we had the top on that one and it will take much more than 5 years to get there again..., note that in that April 2000 post I was, as always, much too optimistic, and have long since halved the bottom target. Just because I have my bull horns on, that does not mean that the basic problems of valuation, excess capacity and political instabilities have disappeared.

Zeev