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Strategies & Market Trends : Angels of Alchemy

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To: Bald Man from Mars who wrote (19948)	11/10/2000 4:38:03 PM
From: Jack Hartmann	Read Replies (2) of 24256

96% in equities and 85% of those in tech. With 25% added this week during the blood letting. Some thoughts: We are three points off the Octobers lows. How much downside can be left? 5%? 10%? Upside is Nasdaq 3800 by years end. No one wants to buy when it is cheap. The market can gap it up 5% and run it. Buyers miss the run because they wait for pullbacks that don't come. Would like to see them get AMAT to $36 and YHOO to $50 and I will be done for a while. Stocks that got punished earlier like BRCM, AMCC, and PCMS are making some comeback. NTAP and the storage sector are in the whipping chair now. I saw block buys in all this chaos on several tech stocks. I can imagine Barron's proclaiming the death of techs Saturday. S&P is around a PE of 28 or so with 9% growth. I don't see the money wanting these companies. I noticed the absence of posters on most board today other than JNIC which was self explanatory. When everyone is pessimistic, the tide will turn soon. :-) Jack

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