Replies to post #32595 on Zeev's Turnips Patch-No Politics (ZEEV)

[chainik]

<I would guess that a sigh of relief after the Bush speech might be the catalyst for a rally to start>

I agree. I'll try the long side for a change, small position. I think Friday dip already discounted the fact that Bush is going to speak and there may be no big decline on Monday.

One point where I strongly disagree with Zeev is that double dip is discounted by the market (although I am not sure that this is still what he thinks). IMO the major causes of the coming dip - overcapacity and debt - have not been addressesd yet. Look at atml or vtss - p/b less than 0.5. Cheap? Sure, but eventually p/b is likely to be 0. Used to be nice businesses; nobody needs them right now.