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Politics : Formerly About Advanced Micro Devices
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To: Jim McMannis who wrote (123985)9/17/2000 5:40:42 PM
From: Rob S.  Read Replies (2) of 1580392
 
I don't think the techs will rally very much until this fall. We are now in the earnings warnings period which will tend to hold back a rebound rally or could lead to more downside for the semis and other tech sectors. As we get into the start of the earnings period in about three weeks, tech stocks should see some lift.

However, there is about $55 billion of stock unwinding (mostly in the tech sectors) that will come available for sale over the 4-6 weeks. There is a backlog of IPOs, some of which are being pushed back because of market conditions. The professional brokerage industry, (rape of the public experts), will concentrate on handling the unwindings and remaining IPOs and are less likely to try to push on a wet noodle to try to pump up the tech sectors.

This is a period to buy when good stocks get clobbered in sympathy with weaker players or general downturns. And sell into the relatively shallow rallies that are likely. The time to show real commitment to buying is when the market decisively turns. Little guys like me must follow the market not try to put our prejudices about what stocks or markets "should do". All these stocks are worth whatever some greater fool is willing to pay for them
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