We are in a healing process which will take a couple of months.
If you are a competitive investor, you've got to assume the Fed will succeed in re-igniting the economy.
We are finally starting to come to those stocks that haven't given up ground yet. This is the first time that these stocks that are priced for perfection have shown some imperfections.
We've had a real rally. Whether we go back and test the lows again, that's really the question.
More and more strategists are of the opinion that the Fed may be completely through.
There are these little bursts of good news in the tech area.
The bottoming process is going to take an awfully long time. There's been absolute decimation for many, many stocks, and there are many nervous shorts out there so you don't need much to spark a fairly vigorous move.
I think the market is struggling from the Enron affair.
I think there's a feeling that the Fed's actions are going to work. So it's not if, it's when.
Anybody with a long horizon has to be in the Internet one way or the other. The one they would pick which I would reiterate is America Online ( AOL ). It is a real company, It has real earnings, it sure ain't cheap, but I think that 21 million subscribers will pay off down the road.