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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 80.66

+3.0%

3:59 PM EST

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To: SyncMan who wrote (36743)	5/30/2000 5:54:00 PM
From: bambs	Read Replies (1) of 77400

I agree that almost everything may have been slower in 1929 than now. The one thing that hasn't change is human psychology. I think that people look at these tech stocks see how far they are off their highs and can't help but think they are cheap. I don't think that most investors really understand the fundamentals behind their tech stocks. Look at the charts of most tech stocks over the past year. I think it's clear that most have been played up and down by gambling traders. The gambling bug is in the market and I think that's accounts for a big part of todays move. Shorts are easily scared because the rallies seem to come out of now where and sometimes seem defy logic. Those that love to buy the dip think they see the start of rally and pile back in. It's tough to short and hold this market. I doubt if many traders can. Perhaps, the inability to short and hold the market is what makes it so choppy. After the crash in 1929 bulls called the bottom at each bounce all the way down for 2 years. Most people are "buy and hold" investors...All traders including myself would love to buy the bottom and hold for 15-20 years like old W.B. I don't think this is the time. I don't think the valuations make sense. Check out this chart and see what I mean.. contraryinvestor.com What do you think the bulls were thinking every time the market bounced? How about "this is the bottom", "everything is soooo cheap" , "if I buy here and hold in a few years I'll be rich". The market may be faster now but the human brain isn't. Bambs

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