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Strategies & Market Trends : Sharck Soup
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To: Rick Buskey who wrote (4832)11/29/2000 9:47:00 AM
From: velociraptor_  Read Replies (2) of 37746
 
Rick...BRCM has taken quite a plunge lately, but the chart is in "midair" right now. I had to go back to mid 1999 to find solid support which at the moment is around 75-80. Below that, there is support at 70 and then the 55 area. I would make my first buy below 80, preferably closer to 75, but if it breaks below 75, cut it until the next point.

In my opinion, this bear market is not over, so it is possible that BRCM has further to fall anyway. The market is returning to true fundamentals which means companies and dot-coms which cannot make money will be crushed and no longer valued on their "potential" which essentially has no meaning anyway as we have seen with the number of dot.com failures already. Companies will no longer be able to sport extravagant P/E's and BRCM's P/E is still around 150.
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