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Technology Stocks : InfoSpace (INSP): Where GNET went!
INSP 65.56-4.0%Feb 5 3:59 PM EST
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To: rampingup who wrote (19281)5/22/2000 11:32:00 AM
From: tahoe_bound  Read Replies (1) of 28311
 
Some would say

That those you mentioned should never have been valued to the point and priced to perfection in the first place where they were trading to be at earnings multiples 5 years out still well into the triple digits. When the small elite that hogs all the market share cracks, it brings value and everything else down too right along with. Even after the devastation in April, there still seems to be a sense of complacency. That is not good from a sentiment standpoint. At the market bottom in 1998 as a recent example, there was much more fear than right now.

Make no mistake, with the chart breakdowns in the averages today the probabilities are now quite high that everything is going to be swiftly torn apart in the days and weeks to come. It could get so much uglier, some very important trendlines and moving averages are failing.

The large caps are finally coming unglued, so that may portend an imminent bottom to this mess this summer. However the QCOMs and the like may never see the old highs for literally years. So many are expecting a big rebound and a return to the norm by elections, that the market just may not accomodate that perfect script. If all we heard instead was "ah the heck with it, it is all over" then a bottom will be in. There needs to be a lot more capitulation.

As for the Fed, 2 things will slow them down. A foreign economic crisis, or a total collapse of domestic markets.
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