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Old 06-03-2002, 07:27 PM
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Default cant BEAR it any longer



the ersatz csco rally has retraced all the way now. major averages lookin bad. havent checked out all the market sectors. reits were mostly up although a few lost pennies. playing the bonds with long end funds, up again today. looks like nineties "irrational exuberance" is being corrected. basic problem with stocks is valuation. god only knows what these companies are really makin with all the accounting crap hanging on the market. tyc ceo got legal problems with not paying ny sales tax. makes it look like corporate ceos are bunch of crooks. are they? there are more than a few. got the spitzer investigation too. makes it look like wall st. investment bankers and analysts committing fraud on investing public. cant prove its true but it sure looks that way to me. explain why i think so at another time. investors are a greedy bunch though. economy looking stronger. just cause economy stronger doesnt mean stocks go up. many investors missing this one. over and out.
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