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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (112163)5/23/2000 4:30:00 PM
From: niceguy767   of 1577276
 
ted:

Re: "Currently I think its a mistake to look at AMD without looking at the broader markets. The markets are in a very corrective posture and I think AMD will be doing well not to drop below $70. Some tech stocks continue to hold up but for how long is very uncertain."

Comment: Seems to me the bulk of market risk may be out of the way for techs with the recent Nasdaq decline from 5100 to today's 3165...AMD has held up and for good reason given its fundamentals...In a stable Nasdaq environment, it's anybody's guess at what level AMD might currently be trading...Most worst case Nasdaq scenarios see a 2900 low in Y2000...Given the current proximity to this low of 2900, it would not surprise me to see Nasdaq stability/strength restored in the short term and AMD once again resume its upward price journey...It's always darkest before the dawn and with Nasdaq already off 1900 from its 5100 high, and many techs once again looking at record breaking Q2 results, my guess is that the hour of dawn is very close at hand! (No doubt other factors such as margin calls and bloodied portfolios will mitigate any euphoric optimism in the short term (as designed by the insane GS rate hikes), but "solid" companies, the likes of AMD will once again prevail in any stable market setting!
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