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Politics : Formerly About Applied Materials

AMAT 234.51

+1.6%

10:17 AM EST

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To: Proud_Infidel who wrote (39907)	11/23/2000 11:49:05 AM
From: Gottfried	Read Replies (3) of 70976

Brian and all, Happy Thanksgiving! Now a word about NASDAQ valuation: this whole business of valuing the whole index using ONE PE number is unfortunate [I wanted to use a much stronger word]. Many Naz companies have no or negative earnings and we all know what that does to the average. The good companies are bargains now. Yet this mindless referring to 'astronomic Nasdaq PE' is so ingrained that I have no hope it will change. I think all we can try to do is profit from it. I'll post links to my updated SEMI charts later today. Here's a new one I made: SEMI btb vs AMAT. Even though SEMI orders trend is the best indicator for industry health, the big money doesn't seem to look at it that way. Maybe they look at btb [however wrong that is]. This would certainly explain why price decrease from the top approximately coincides with btb decrease from above 1.4. geocities.com Gottfried

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