MMV, Yup, oil and Japan and the biotechs were just as bad. As I always say, if I knew when, I wouldn't need 90/10. Right now, I still see too many septic sceptics on the Nut stocks, so I am holding off. I want to see everyone echo Jim Cramer's comments and say that valuation doesn't matter, they are going up. Outside of SI, you don't hear that much irrationality, especially from pros. They will rejoin the blundering herd on these stocks eventually, and soon after that will be put buying time.
As for the rest of the techs, the news remains negative almost across the board. SAP, Storage Tech, etc. are not dinky cos. Once again, the dirty half dozen, MSFT, Intel, Dell, Cisco, Lucent and Worldcom are doing well, so the real world doesn't matter. Intel is about to be squashed by pc lackademand, and maybe Dell, too. But the question is, will the market treat their failures the way they treated Compaq's and Merck's, with a big yawn? I suspect so, thought they will punish the actual sinners for an hour or two.
The good news is, the higher the garbage goes, the further it will fall.
BTW, congrats on those Vols.
MB |
