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Technology Stocks : All About Sun Microsystems
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To: Charles Tutt who wrote (5161)10/27/1997 6:15:00 PM
From: cheryl williamson  Read Replies (1) of 64865
 
Charles,

So far, it looks like a correction to me... no bears.
I still see it as part of a trading range between
7200 & 8300 that's been going on since August.

I can't say I know what is going on in the Far East.
Maybe the market rumble was planned to preceed the
Chinese Premiere's US visit...just to let us know how
important their markets are to us.

I also think that lots of traders like to have excuses
to sell & take profits. Who knows if a blown bhat or
a Hong Kong market crash is going to mean slower growth
for US corporations? If so, how much of a slowdown??
SUNW has already paid for it with their earnings report
last quarter & they didn't suffer that much. If the
Far East slows down do we know that another part of the
globe won't pick up the slack?? What about Europe or
Latin America??

To me, the fundamentals in the country still look awfully
good: lowered gov't deficits, low inflation, cpi & ppi
steady as she goes, increased worker productivity, stable
employment rate & companies like SUNW still cranking out
innovative products and services at competitive costs
while running at full capacity.

I wouldn't invest in AAPL or SGI right now, but I see the
semi-conductor sector as oversold. Intel & Applied Materials
& KLA-Tencor all have manufacturing or parts suppliers in
the Pacific Rim. They should benefit from the lowered wage
rates over there if there is a recession.

Perhaps Hong Kong is experiencing "growing pains". They have
too much emphasis on real estate in their stock market. It
may be like Japan in 1989 over there now with unbelievably
expensive property holding up the value of their markets. I
never trust real estate to hold up an economy.

cheers,

cherylw
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