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Technology Stocks : CheckFree (CKFR)

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To: Jumper who wrote (1034)	12/20/1997 8:07:00 PM
From: Cymeed	Read Replies (1) of 8545

<<I think we will see 5000 this spring before a rally to 5700 then a fall to 4000.>> Woooh, that's the most bearish comments I ever heard recently. I thought I am bearish enough that I should start buying more. Looks like Jumper is feeling lower than I do. While I agree the market maybe slightly overvalued, I disagree that the market is extremely over valued. The most possible scenerio for the next three months will be side line, while the market is searching for new leaders (hopefully CKFR will be one of the new barometer stocks by then). There are still a lot of positives in the stock market: Very low interest rate and bond yield; Very low inflation (even deflation); People still buy stock and mutual funds for 401k and retirement; More cash sitting on the sideline than August 97; More short sales than before. From a contrarian stand point of view, I think the market may be heading higher ! The worry is on earnings. As long as the earning picture is good for a company, it should be OK during this consolidation period. I am comfortable with stocks that will deliver good earnings in 1998, such as CKFR, Cymi, and EDS.

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