We feel that the market will still be a matter of the haves and the have-nots. The real companies with solid balance sheets and cash flow will find [enthusiastic] buyers, while the companies at the opposite end of the spectrum will continue to struggle. We note that this thought is becoming the consensus and that is why stocks like Johnson & Johnson continue to hit new highs while the battered tech/telecoms have yet to see the light at the end of the tunnel. In becoming the consensus, we feel the potential looking forward will be in the companies that have declined due to guilt by association, and we have started taking advantage of this.
