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Author: MacJac One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5026  
Subject: The devil with it Date: 10/24/2000 5:52 PM
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Well, this is a shock, here I've been having a great day with old friends and drinking good english ale, and I come home to this.

A quick look at CNBC shows that most of the selling is in little lots of 100 to 200 shares. To me this indicates panic selling. In watching after hour trades I concluded a long time ago that this particular market has absolutely no relevance to anything - I ignore it.

I looked at the press release from NORTEL (have yet to listen to the web cast) and short of a minor decrease in total revenue I can't see any reason for the drop. After all, the earnings per share before acquisitions beat the street estimates.

With reference to the above, please bear in mind that the SEC has put in new regulations regarding disclosures. Apparently the revenues fell short of the estimates of 5 analysts. So what. On what criteria were thier forecasts based. Please remember that these people are used to being spoon fed the information they grudgingly dispense to the great unwashed (us). I strongly doubt that the average stock market analyst would know a professional market review if it walked up and bit him in the ass (sorry).

As for me, I'm going to go pick up the wife and see if she wants to go out for dinner. I'll worry about this tomorrow (maybe) after I take some time to review the figures. However, my gut reaction is that I'm gonna pick up some real deals tomorrow.

Sleep tight Fools, life's to short to get too wound up and upset about the short term performance of a stock.

MacJac

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