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Gold/Mining/Energy : Canadian Technology issues

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To: Vartan who wrote (51)	12/15/1995 11:12:00 AM
From: Joan Osland Graffius	of 640

Vartan I don't know. My thoughts are technology will take off when we least expect it. That always seems to be true. How beat up they will get in the short term is anyones guess. Seems like we always have to get a lot of bears with money on the side lines and then the market will go up as the bears become believers and buy in. Also, another thought is where is there growth except in technology? Do you have any ideas? CNBC this morning showed the growth mutual funds are down relative to the S&P 500 at this time and have been for the last month or so. There certainly is a correction going on and how long it will last is anyone's guess. Here in the states money has been going into consumer non durables and oil. Defensive!!! Now with this correction in technology issues there certainly are more sellers than buyers and how long this will continue is anyones guess. It certainly could go on for a while. The problem is market timing, the technicians have not been successful this year. They were too late in predicting what was going on. Seems like recent history, last 40 or so years, is not a good indicator of what was happening. This is going on too long, but some good questions are: where is the growth? where is industry going to make its productivity increases? are we really in a revolution as to how we get and process information? is the rest of the non western world going to follow suit with productivity improvements and change with information access and process? etc, etc. If the answer to these questions is yes, long term technology is where one should invest for growth. I have an aunt that has some considerable wealth and rode out the market crashs of the 20's and 30's without getting out of the market. They stayed in the market with high quality companies and there finances did better than those who panicked and sold. Some times these market swings seem like the crashes. When there are times like this I remind my self of her success with staying power. Again, I don't know!! Joan

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