WorldCom Goes Under
<a href="http://www.washingtonpost.com/wp-dyn/articles/A41080-2002Jul21.html"; target="_blank">Click2Read</a> article.
The market is going to be interesting tomorrow. Dow 7000?
The market is going to be interesting tomorrow. Dow 7000?
Comments
<strong>No, panicked investors will sell off even more with this news tomorrow. A lot of people think the Dow was going to have a huge drop anyway, now it's closer to a certainty.</strong><hr></blockquote>
That is plain wrong. It is already factored in.
Also the Dow is a silly indicator for the overall market. There are many indexes out there that follow the broader market as well as specialized sectors much better.
<strong>lets hope the bear can get some momentumm, and take Apple's stock price into the toilet again. I sold during the very heady peak, and would like to start another run up of Apple. I think it can bottom out just a bit more.</strong><hr></blockquote>
"Again?"
Where have you high school kids been hiding? Apple's stock and that of virtually every other company on the NASDAQ and NYSE have been in the toilet for weeks.
Apple's stock closed off substantially at the opening bell on the day of the Keynote before Jobs opened his mouth. After the Conference Call that followed it dropped even further.
Or has everyone been too busy whining about their friggin' freebie email account to recognize that the money for things like R&D, marketing and expanion tend to go south when such *dramatic* market conitions are underway?
Don't you read the posts from the guys in Europe where Apple prices are "too high" are now finding them even higher because the dollar is down 20%, likely more this next week, against the euro.
Consider what this might mean for all your childish and irrelevant dreams about MHz this or feature that. There's a bigger world out there and the fact that you read one article in the NYT, or maybe didn't bother to even check the link, does not an understanding of what's going on make.
Why not idly speculate about why Adobe and Macromedia didn't show up for Expo? Little fantasy games like that entertain everyone as well?
The popular idea of Apple just giving everything away or cutting the price 50% to suit some number that "sounds good" to your teenage hyperventilated brains when you don't have even a basic understanding of economics makes you.......look ridiculous to the outside world while you're be clever and cool in the fantasy land you've created.
Not to worry. In a few years you'll possibly want to get a job doing something besides flipping burders somewhere.
[ 07-21-2002: Message edited by: shillforsteve ]</p>
<strong>That is plain wrong. It is already factored in.</strong><hr></blockquote>
I'm not talking about logic, I'm talking about panic. People can talk the talk all they want about what's been "factored" into the stock averages, but the truth is that people are being emotional about this. Same way people bought on emotions in the late 90's, people are selling on it now. No amount of "factoring" can predict on that basis.
<strong>
.....look ridiculous to the outside world while you're be clever and cool in the fantasy land you've created.
Not to worry. In a few years you'll possibly want to get a job doing something besides flipping burders somewhere.
[ 07-21-2002: Message edited by: shillforsteve ]</strong><hr></blockquote>
Sounds like someone got burned on his stock options
(I hope I didn't jinx anything.)
Come by someday and I'll buy you a burger on the house.
[ 07-22-2002: Message edited by: Matsu ]</p>
<strong>
I'm not talking about logic, I'm talking about panic. People can talk the talk all they want about what's been "factored" into the stock averages, but the truth is that people are being emotional about this. Same way people bought on emotions in the late 90's, people are selling on it now. No amount of "factoring" can predict on that basis.</strong><hr></blockquote>
Exactly. We've gone from "irrational exuberance" to irrationally despondent.