Buying today was mainly by individuals, with
professionals and institutions remaining wisely on the
Unless some of you have money to burn or a death wish,
you really should run, not walk, away from this
market while you still have something of value to
Dr. Greenspan has stated that the high stock market
prices are a form of asset inflation and one of the
chief causes of excessive consumer spending and credit
expansion. Since he has not been able to "jawbone" the
markets down, he and the Fed will be forced to resort to
using the club of monetary policy to force the action.
This brute force approach may cause a crash, but he's
really been left with no good alternative.
Greenspan believes that the Fed can keep the consequences
of a crash from becoming to bad, and he's not afraid
do whatever is necessary to kill this runaway bull
market. He IS going to raise rates at least one more time
this year - no doubt about it. WHEN rates are raised,
the prices of stocks like AOL, where many years of
future earnings are already in the stock price, are
going to be driven lower and lower until all but those
who were in at the beginning have
If you choose to continue hold with the limited
upside opportunities and huge downside possibilities
that exist, you are either very young, with many years
left for the markets to recover, or very foolish, or
The Portland judge ruling is the most
unbelievable thing, -Communism in the old fashioned way!
SUNW can work with anyone who can occupy the market
and AOL is not the only one.
AOL, in the
front, no progress toward Broadband access; in the back,
Free access is dragging its feet.
AOL is going
down unless there is a dramatic deal, which is
unlikely in the near future.
Take it and live with