Posted on 07/22/2002 9:58:15 AM PDT by newsperson999
Dow 7,784.93 -234.33 (-2.92%)
Nasdaq 1,288.09 -31.06 (-2.35%)
S&P 500 819.51 -28.25 (-3.33%)
Yes and it's still more than 3 months to election day, an eternity in politics. Plenty of time to uncover some of the Dem's ties to these scandalous companies if the Dems try to push this issue and act innocent (which they can't be, since these scandals occurred in '98).
Thanks Alan!....it does beat the late 70s and early 80s with double digit inflation and interest. Now that was a fundamental Bear. But the impressions Volker and Ronaldus Magnus gave helped turn that around along with stable oil prices and a boomer pop entering it's own earning potential- wise. It's that population earning power bubble that worries me almost as much as the terrs but it's more macro.
All you need are a few strategically-placed companies to shove the herd in that direction.
Check out the links in #306.
President Bush will not get re-elected if our markets stay don't bounce back with vigor. That's a dead certainty.
I saw where even Donald Trump donates to liberal candidate's campaigns. It's been a big lie since the Kennedys, the Dems say their for the little guy, but their biggest backers are the richest in America. The ultrarich know that they are secure, so they help elect Democrats to keep everyone else down. The best way to help the little guy is the conservative model. Low tax rates for everyone allows anyone with incentive and willpower to raise their boat. Ross Perot helped Clinton get elected. He did so because he knew that Dems punish the productive, successful mid-rich thereby keeping the ultrarich on the top of the mountain forming a viscous cycle of money from the ultrarich to the Dems to help them keep their spot, who then pass tax laws to help the ultrarich keep their spot. Meanwhile Dems get 90% of the black vote. Unbelievable.
I could not disagree more. No President has undergone times like this one, mulitiple problems, and he INHERITED ALL OF them. Thankfully, we are seeing the desperation from the DemoCRAPS, and most Americans GET IT now (8 years of Clinton!!!)
As to your naysaying.. time will tell the truth. But will you be listening? Because apparently you haven't yet!
Wells Fargo Sec raised HPL to strong buy on May 17,2002 http://yahoo.smartmoney.com/thedatamine/index.cfm?story=20020620&afl=yahoo
Insider & restricted shareholder transactions reported over the last two years LEPEJIAN, Y. DAVID: Declared Holdings
2002-06-05 -
2002-06-26 *19,500 HPLA Sale at $12.60 - $14.45 per share. (Proceeds of about $264,000) 2002-02-05 -
2002-02-13 *30,000 HPLA Sale at $15.10 - $15.55 per share. (Proceeds of about $460,000) 2002-02-05 -
2002-02-13 *30,000 HPLA Option Exercise at $0.07 per share. (Cost of $2,100)
2001-07-26 *10,219,129 HPLA Statement of Ownership
By Cintra Scott
June 20, 2002
Smartmoney
But would you believe that the most loved stock of them all is actually a tech stock? Yup, chip-testing software maker HPL Technologies (HPLA story=snapshot&symbol=HPLA>) tops our list with seven Strong Buy ratings. HPL was also one of the three repeat survivors mentioned earlier, along with Loews ( a holding company for tobacco, insurance, hotel and oil-drilling businesses, and generic-drug maker Impax Laboratories
Theories?
This CBD is to me simply an exaggeration of what many small businesses like myself occasionally do when it's time for a new bank loan. Of course, we do the opposite when it's property tax appeal time...lol. My dad founded a public company so I know that publicly traded companies should not try to sweep bad news under the rug and hope projections will cover their trail. That is esentially what most of these folks did....in a very big way. Enron and WorldCom paid too much for their never ending acquisitions and ended up hoping cash flow would keep up and it obviously did not. Neither of those companies screwed the pooch in one or two quarters...this was years in the making. AOL has done the same thing but they haven't lied as much about it. That huge goodwill write down a few months ago is evidence they overpaid. Now the question of executives making sweetheart loans and timely options when the house of cards is falling is much more troubling to me ...in fact...it should be criminal.
I agree that the DJ can go to 3000 or so but it will take a combination of events beyond emotive reasoning. I have a friend who is an astute S&P futures trader and he thinks the bottom is around 7K. He's usually right but who knows? We won't know for weeks or even months until after it's happened.
BTW, my family is indeed about 60% in equities portfolio-wise...(un-margined fortunately) so we're feeling the pain. We've been hit with Disney, AllState, AOL and ATT after 9-11 this year. Actually T was on the skids prior to 9-11. Disney and AllState will prevail. AOL may splinter and T may be bought by a profitable babyBell....ironic isn't it? AOL has a fat cash flow and a huge subscriber base....they need to re-organize and get the media folks outta there...it looks like they are doing just that. Still, it will be a long road back for them even in a Bull market.
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