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Technology Stocks : All About Sun Microsystems

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To: JC Jaros who wrote (33557)	7/14/2000 2:37:14 PM
From: chic_hearne	Read Replies (1) of 64865

JC, I'll never be a buy and hold guy of any stock with a P/e over 30 unless they have enough growth where the P/e will be below 30 with in a year. If and when the big crash happens, the high P/e stocks will get taken apart badly. You can tell me all the reasons why it won't happen, but you'll never convince me. Currently, the US equities market is trading at 170% of the US GDP. It never got this bad in 1929 or in Japan in 1989. The fed is playing a balancing act right now. Eventually, the fed is going to screw up in my opinion and I don't want to be stuck holding the high P/e stocks. I'll stick to AMD which is going to have a P/e of 10 in 3 months. I'll still make a trade on Sun if I see an opportunity, but it would honestly have to be 30 a share before I would consider holding for long term. I won't buy and hold IBM either, but I'm damb sure going to be buying a ton of July calls right before earnings on Tuesday. I planned to do the same on Sun, but they've already run to far and I think a sell off is more likely, even given what should be a good quarter and future guidance. chic

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