The market psychology continues to be fascinating but very elusive to comprehend. It is my feeling that the Justice Department under the current administration coupled with the verbal threats backed up with interest rate hikes by the Fed Chairman have a great deal to do with the current free fall in the markets.
When Justice obtained the ruling of a friendly Judge against Microsoft the wheels were set in motion. Investors in tech stocks lost confidence in the dot coms when they saw that the successful MSFT was being hammered in the market place. If the King could brought to his knees what would non-profitable tech stocks be able to do in order to withstand a market onslaught? The cycle and self fulfilling prophesy of the naysayers could then be proven correct what with panic selling and the forced meeting of margin requirements by investors with borrowing positions.
All in all it borders upon being comptemptible when Justice attacks one of capitalism's greatest success stories and as a group of wanabees try to take it down. In this age of technology a monopoly in the tech area can't exist simply because the pace of technologolical advancement is too rapid. If a technical corporation doesn't improve and expand its products, the market together with competition will solve the problem. The Justice Department can't possibly do anything constructive, but we have seen great destruction rendered upon the American economy as a result of their actions, to say nothing that they have likely hurt the one greatest contributor as an industry leader to this nation's budget surplus and may have hurt the surplus for some time to come.
Since "Bore Gore" invented the Internet, where is his position in this matter since I would presume that he invented free enterprise along with "Slick Willy".
However, as a T holder the market reaction will prove that T truly is a "Blue "Chip" which will prove to be a great stock coupled with AWE as a tracking stock.
the "thought" pieces about economic policy, Greenspan, Justice, etc. Gives me something to ponder. I could do without the psychic friends food fights of the ilk "t'is so!" "t'is not!" Let's face it, if any of us knew with certainly what's going to happen with the market or any issue, we'd all be rich and the Democrats would hate that.