May 08, 2002
The beginning of the beginning in the stock market

I am an amateur stock market watcher and former trading addict. For about two weeks now, I've been ranting about how oversold the stock market is. I also was running around about 2 years ago shaking my head and mumbling to anyone that would pay attention that the stock market was completely out of whack on the other end.

Marginally good news from Cisco Systems yesterday opened the floodgates for an amazing day on the stock market today. I believe very strongly that today was the beginning of the beginning of a nice recovery for tech stocks in particular and the market in general. Tomorrow will likely be very boring and a little negative, but Cisco was the bookend on earnings season that basically reassured people that things aren't as bas as they could have been and are likely to get better.

The stock market has an amazing effect on motivation and psyche. People are happier with the security of a good market. The silicon valley, which is no longer my home, seems to be lacking energy right now. Or maybe I've lost touch a little.

Posted by Jud at May 08, 2002 11:47 PM
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