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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 687.72

+0.7%

Jan 5 4:00 PM EST

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To: HairBall who wrote ()	4/16/2000 2:11:00 PM
From: Mr. Miller	Read Replies (2) of 99985

Nasdaq was 2000 about August 1998 before the Asian crisis hit: finance.yahoo.com^IXIC&d=2ym Am I to believe that at Nasdaq 3369, growth in the technology sector has "only" been 68% in 20 months for an average annual return of 41%? And am I to believe that the Nasdaq will go down further from here? Nasdaq 3000 would be a 50% gain from the August 1998 level, annualizing to 30%. Heck, CSCO at its current rate is growing over 30% earnings per year over year. Is the technology sector growing only 30%-40%? No way. This is a MAJOR overdone situation. IMHO, investors in a few weeks will be wondering why they weren't buying at these levels. And I'm not even suggesting the garbage dotcoms. The Generals(CSCO, SUNW, ORCL, INTC, MSFT, etc.) are at obscene levels compared to past growth, current growth, and future growth. Miller

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