Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 230.17

-1.4%

Nov 7 9:30 AM EST

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From: Gottfried	7/30/2000 5:20:11 PM
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From Barron's, some encouragement... >What now? The consensus opinion is that this too shall pass. The question is when. Tom Galvin, a strategist at Donaldson Lufkin & Jenrette, is still recommending that investors keep 90% of their portfolio in stocks and 10% in cash. He notes that the tech selloff is consistent with a seasonal pattern: Since 1997, there's been a decent Nasdaq rally from May to the third or fourth week in July. (This year, it was around 30%.) But then there's usually a 15% correction from the end of July until Labor Day. From mid-September until the end of the year, the Nasdaq recovers by about 20%-30%. Galvin theorizes that investors bid up stocks in late spring and early summer on the expectation of good second-quarter earnings and then sell on the actual news. This year, Galvin sees tech shares -- and thus the Nasdaq -- remaining under pressure for several weeks before a good re-entry point appears. When it does, he'd jump back into the beaten-down PC sector, on the theory that it will face relatively easy earnings and revenue comparisons in the second half. His top picks: Apple, Compaq and Gateway. Then he'd focus on semiconductor-related issues, such as Applied Materials and LAM Research.< [snip] subscribers interactive.wsj.com Gottfried

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