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Technology Stocks : Intel Strategy for Achieving Wealth and Off Topic
INTC 39.50-1.2%Nov 3 9:30 AM EST
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To: Sonny McWilliams who wrote (26832)3/13/2001 3:16:03 AM
From: William Hunt  Read Replies (1) of 27012
 
Sonny ---Good Morning ---interesting that the techs should get be slam over their overvaluation ---take a look a GE ( P/E 34 )15% growth if it is still their . KO has a P/E of 58 with no growth worldwide and if we are going into a world wide slowdown I remember what happen in 1998 to KO . If this continues the DOW is overvalued by at least 20% considering that the S%P 500 has now decline 20% and is in a bear market .
The one thing that seems interesting in what is happening is not that the selling volume is high but it is average but we have no buyers . It is like the houses ran the market up last year ---ran out of juice and decided that we need to lower the market back to a low level to start the cycle over again . The only way to make money is to pump and dump and scare the investor until he sells his shares at the bottom . You are right about long term investing ---it seems to be a mirage ---have not notice any of the houses saying lately this is what you need to do . They will start this old song and dance when they are ready to start building a base again . The only positive that I have notice is that most of the money has not gone into the bond market but is sitting in money market accounts .

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