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Technology Stocks : John, Mike & Tom's Wild World of Stocks
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To: John Pitera who wrote (1181)6/1/2000 7:10:00 PM
From: Logain Ablar  Read Replies (1) of 2850
 
John:

CDTS is thinly traded so even quick trades can be tough. I was hoping to buy some tomorrow AM on a pull back. FAT CHANCE on that one.

On the rally I follow your chart leads but I can't see the market just rallying without a pullback. Remember the MM always want to really scare the shit out of me (which they've been doing a pretty good job lately) and take my money. Plus I agree with the Warren Buffets of the world on the high valuations at some point will matter. As an example I closed out of WIND yesterday (just can't hold thru earnings anymore, I'd rather chase than suffer the 10 to 30% haircuts) and they earned a whopping 11 cents a share (most of which was investment gains). They are trading @ 76 times this fiscal year earnings (and this is when you take out the goodwill, acquisition charges,etc.). The stock will probably move to $45 tomorrow (the are having good revenue growth so at some point earnings will explode but that is a year away and a lot can happen in a year, like a recession to nix earnings).

I figure they'll run the market for a day or two (although it can sell off tomorrow afternoon, who wants to hold thru a weekend) and then run it down with interest rates worries sometime next week. The real question is should I sell SNDK & ANCR/QLGC or just hold on for the ride.

I wonder how much money is on the side lines for a sustained rally? It does appear the funds were caught off guard on this rally.

Tim
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