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Scary Stuff Stepan N. Stool, PH &D (12/14/00) On Thursday, Dr. Stool received an e-mail from Engage Media, one of the largest internet ad agencies, assuring publishers that Engage has enough cash on hand to pay the bills for four more quarters. This is very scary stuff. You should not doubt that all these reassurances are a bunch of bull. The internet and tech world is imploding, and that implosion is going to take some banks with it. The swaggering arrogance of those big banks which filled the tech bubble with its gas will be repaid, but the loans will not be. Dr. Stool watches a bunch technical indicators every day. They show a picture of a powerful secular bear market, just beginning to gather steam. The weak sectors are getting weaker, and the strong ones are topping out. This bear market has a long way to go. |
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