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Non-Tech : QQQ - Nasdaq 100 Trust

QQQ 623.23

+2.2%

Nov 10 4:00 PM EST

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To: robert duke who wrote (415)	11/12/2000 4:45:14 PM
From: Topannuity	Read Replies (4) of 840

Here's a snip from an email I got 10 minutes ago from Ed Downs edowns@nirvsys.com of signalwatch.com fame: Stocks have no intrinsic value. Stock valuation is a game of sentiments. The only reason CMGI traded at 160 earlier this year was that folks were willing to pay that much on the hope it was going to 200. Now that it's at 15, it would seem to be a bargain, but it could certainly go to 10, if buying even at this level dries up. Stock valuations rarely depend on what the price used to be. The great stock trader, Jesse Livermore, once said, "a stock is never so low that it can't go lower, nor so high it that it can't go higher."

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