Gary.... Look at the chart. The 5 year one. Don't hate the bears, feel for them. I feel very sorry for them. I hope they have the wisdom in general to focus on companies with no earnings, no growth, no future plans, high debt, little cash, poor management, and no doubling of their core business every 100 days. (does internet use really double every 100 days?). I would think that out of 5000 companies, CSCO would have to be one of the very last that anybody would want to make money on the short side. Of course, if you sold it at 82... :)
Anyway, Hope everybody had a good weekend. The money looks like it has decided to play again (for a while, at least), and with tech being the only high growth game in town, it's no surprise where the money is flowing until value comes back into vogue (not holding my breath). Of course, some will continue to call it a mania and I'm not disagreeing with them. But with Tech, I still see mania as being at least as likely as rationality. (Does that make it non-mania?). |
