In mid-October(back in what now look like halcyon days compared to now) Woolybooger compared the prices of 17 tech favorites on May 24 and Oct 11th. The operable logic then was that - lookee here!! - the good stuff rebounds fast. Alas, the stock gods didn't cooperate. I happened to check that list today. 12 of those 17 stocks have re-touched their May 24th open price or fallen below. (BRCM, for example, was $122 back then; JDSU stood at $77.63). The five holdouts are BRCD ($94 in May), EXTR ($25.13), JNPR ($79.63 , QCOM ($76.31 ....which is fast approaching) and SEBL ($48.97). The force ain't with us. I can't imagine EXTR fizzling to $25, but Q and SEBL could join the rest of the boomerang pack.
I don't know where all the cash is going to go (the cash that fund managers are supposedly sitting on) but I think the days of those rebounds are gone for good . . .or at least until people forget how aweful this has been.Tulips, anyone?g
I think the days of those rebounds are gone for good Yeah, you're right. There ain't never gonna be another rebound. Congress has outlawed it. Greenspan has vowed to do whatever it takes to prevent it. President-elect BushorGore has promised to call out the National Guard if it happens. Those flying saucers you hear about are people from other planets coming here to have a big meeting every night to plot against the stock market. If there's a rebound, they're going to release giant robo-ants among the population.WallstarNow go out and face the day!
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