But we have to look at it, for Government actions need to be directed toward long-term fundamentals, sound economic policies, sound growth policies, sound investment policies.

Two analysts who follow the company at J. P. Morgan Securities released a report yesterday morning saying that "long-term fundamentals appear sound."

"We follow 10 publicly traded companies and have buy recommendations on all of them because we think the long-term fundamentals are superb," Mr. Sidoti of NatWest Securities said.

"Their short-term fundamentals may not be glowing, but their long-term fundamentals are," she said.

Asked about Mr. Bush's expectations for the economy, Ari Fleischer, his spokesman, said that there were "all the bellwethers of short-term problems" but that the "long-term fundamentals are good."

"The long-term fundamentals still remain very positive," said G.M.'s chairman and chief executive, G. Richard Wagoner Jr., during his company's quarterly earnings conference call in October.

In addition, the market's long-term fundamentals look good, Mr. Maltese said.

Value investors typically seek stocks that are cheap relative to their long-term financial fundamentals.

As a result, Bernanke sought to reassure Wall Street that there was no real need to panic because the long-term fundamentals of the US economy were solid.

"The long-term fundamentals haven't changed," said Mr. Cramer, who added that he had bought options that expire on Friday to buy 100,000 I.B.M. shares at $95 a share.