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Technology Stocks : Tekelec
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To: BWAC who wrote (1207)12/11/1999 11:58:00 AM
From: WTSherman  Read Replies (1) of 1648
 
BWAC, the obvious problem with the current market is that the I-nutz/Linux/etc. mania is not sustainable and that the bubble will burst. In the meantime, the attention of retail investors and, increasingly institutional investors is all on the mo-mo stocks. If you look at the market breadth its very scary. Despite huge gains in many tech heavy averages(NAZ, NAZ100,.DOT) there have been few days in the past few weeks that there weren't more stocks down than up.

When the bubble bursts the effect is going to be far beyond the mo-mo stocks, its going to rip into the whole market and have a huge impact on the economy as the "new rich" suddenly find out that they aren't rich any longer. With that the credit subsidized spending will collapse.

The best hope here is that the Fed will become much more aggressive with interest rates and try to halt this absurd speculation before it wrecks the economy. Unfortunately, its a lose/lose scenario. Only question is which lose hurts less...
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