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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 77.80

-0.3%

Nov 17 3:59 PM EST

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To: Jacob S. Rosenberg who started this subject	9/23/2000 2:08:36 PM
From: bambs	Read Replies (1) of 77400

I think what many of you don't get is that the worlds biggest tech company lost 21% over night! This market is so full of hype and spin. A little slow down in europe for Intel and it gets wacked for 21%. The value of your paper stocks is only what people believe it too be. What if Bill Gates said tomorrow that things are just great at MSFT. That he will keep working there as CEO for the rest of his natural life but he is going to start selling his MSFT stock and get out of his ownership in the company. This is a crazy idea. The point I am trying to make is that there are billions of shares of CSCO, MSFT, INTC. Insiders have and will continue to sell out of these companies. It is them that will get the real profits out of this market. The general public will continue to work, save and invest but will never get the riches they dream of. I truly believe that there will be great hardship for many in the coming years as a result of this speculation. I know that many of you that post here are quite well off. That you want to continue to play the game. That you think you can just buy and hold and get out in time with a profit. That's great! Go for it. The fact remains that people take money out of the market. The money that comes out can't be greater then the true net income created buy the companies in the market. When companies like CSCO, IBM, MSFT etc etc give away billions of dollars in stock options that does have a real effect on the market. People are going to learn the hard way that this market is a house of cards. That currently the public believes that CSCO is worth $60. But, over night , over a month, over a couple of years people will believe something completely different. "7 billion shares" History has a way of repeating itself. These companies we trade are great companies. The future of the internet is fantastic. Wireless advances will be incredible. The stock prices, market caps and outstanding shares of these companies are completely insane. I would recommend that people take the time to read about the south see bubble. About past currency crisis. It truly remarkable how a whole nation can believe something and feel completely sure one day and then think something completely different another. The erosion of a public's bull market perspective takes time. That's why market crashes take years to complete. People seem to have a hard time realizing and admitting that they are wrong. I wish that we could just get the down side over with. It's a shame that people are going to work, save and buy into stocks like INTC at high prices only to get wacked for 30% in a month. Read your history books. Try to forget about the fact that you are long this market and want stocks to keep going up. Try to look at both sides. Best of luck in the coming months. I hear we may have a rally. Why? Because CNBC says so. That's what the market does in the fall. We shall see. You can bet that if the futures rip intra-day I will buy. And if they make lower lows I will sell and short. I will be in cash at night. My family in bonds. Bambs

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