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Friday, March 19, 2004

Market Action Unconvincing

It looks like the market is trying to recover here. I see it has hit break-even for today, but I'm unconvinced that this is a sign of strength. In fact, I note that oil prices are still climbing which makes me even more negative. I get the feeling we're being set-up for a major downward move. The only thing that could propel the market is some serious government spending, which is not out of the question. In fact, my instincts tell me that Bush would be well-served to pump some money into the American economy very quickly. I suspect that P.O.'s are being accelerated in many government departments already. But what about the deficit, you ask? It's clear that increasing the deficit is not a concern of this executive branch. Besides, pumping a few extra billion into our economy would be relatively unnoticeable considering the absolute size of our current deficit. What's a few bill here and there when the headlines approach a tril? Not much.

Adobe posted really good results. Up 10% -- this is an earnings report I wish I would've been in front of. I need to look into their new enterprise .pdf offerings. I'm a little suspicious that this will be a major growth driver that merits substantial premium for the company. But, I could be wrong, this might be the first enterprise application to really demonstrate the merits of an XML infrastructure. Additionally, they're on the initial ramp of this effort and I don't like to run against a large company putting out new product initiatives. Usually, the product launch has been well thought-out and demonstrates decent growth in the initial stages. The real money will be made in figuring out how long this offering's legs are. (ugh...ugly sentence)


At 9:02 AM, Anonymous QUALITY STOCKS UNDER 5 DOLLARS said...

You can never predict market moves.


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