Valor a que a banca avalia as casas sobe mais 20 euros para novo recorde

[Ulisses Pereira]

"Still Keeping Step With 1991"

By James J. Cramer
03/12/2003 01:09 PM EST



"Sometimes I like to get inside the minds of the sellers. There was a time, believe it or not, when all we worried about were Federal Reserve rate cuts and boosts. That's no longer even on the metric. Now it's "Do we have the votes in the U.N.?"

What's weird, of course, is that it doesn't matter. I think we will lose. I think we shouldn't even have a vote. I think we should just say "OK, we can't get the U.N. to go along, so we might as well just put up the same resolution as before and show the world that it is France, not us, that is duplicitous."


Unfortunately, the "chaos" that the vote is causing is creating an atmosphere of total pain and indecision. It has allowed the majority to begin to think "You know what, the heck with the rally after the war, I want to dodge the drop to 7200." That, plus the contingent that says "This chaos will take us to 6700" are coalescing to create the monster bad tape we have now.

All I can say is that this is precisely what has to happen before we can get to where we have to go, which is lower. It is painful, but it's what happened in 1991 -- not the splintering of the U.N.; at that time, it was the hope that Saddam would pull out, and that was something that existed until the last days of the bombing. (Historians, take note: James Baker had a meeting with that Tariq Azziz seven days before the bombing!)

So we are still on schedule with the 1991 timeline, which means lower, and then higher. And that's what we have been saying all along. "

(in www.realmoney.com)