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Technology Stocks : Broadcom (BRCM)

BRCM 54.67

0.0%

Feb 9 4:00 PM EST

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To: John Koligman who wrote (4641)	11/20/2000 3:31:17 PM
From: Dave	Read Replies (1) of 6531

When manias "unwind" they never ease into a rational valuation, but rather they always overshoot. Speculators, essential ingredients in any good mania recipe, buy high-flyers on margin and when the bubble pops, the speculators get margin calls and have to liquidate their good stocks as well as their bad. That's why even reasonably valuated and cheap stocks will get smacked by the end of this bubble. You should not be surprised to see the Nasdaq hit 1500. Watch for some pain in the Dow and S&P indices as well. There will be some fantastic bargains at the bottom, but trying to guess when that happens will be a dangerous game. Dave

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