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Technology Stocks : SDL, Inc. [Nasdaq: SDLI]

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To: Wyätt Gwyön who wrote (2972)	10/16/2000 2:53:59 PM
From: pat mudge	of 3951

Weekly Market Comment from CSFB's Galvin and Carter: · Mutual fund cash levels bottomed at 4% in the first quarter of 2000, moved past 5% in August, and by our estimates now stand between 6% and 7%. Over the past week, the Investment Company Institute reported a whopping $20 billion moved into money market funds, which now exceed $1.8 trillion. · Put-to-call ratios are at historically high pessimistic levels. Our favorite technical indicator has moved to oversold territory. The 13% compression in S&P 500 P/E multiples is in-line with historical crisis period averages. · The collapse in sentiment and share prices as well as the rise in cash levels is playing out according to the classic text. However, if the tax-loss selling season is nearly over and oft awaited redemptions yet again fail to occur, the redeployment of cash should turn the tone of the tape. · Page 13 lists about 50 CSFB recommended tech and consumer shares to ride out the storm. JDSU is number 6 on the list, after NT, ORCL, NOK, AOL and ERICY. Pat (send email if you want the report)

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