Cisco Message Board - Msg: 14906649

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Technology Stocks : Cisco

CSCO 73.11

+0.3%

Oct 31 9:30 AM EDT

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To: The Phoenix who wrote (365)	11/29/2000 3:00:25 PM
From: Eric	Read Replies (3) of 405

Gary, I agree with you. Psychology in the markets has really been broken but that has been pretty much confined to the Tech stocks. We are still in a downward moving market with a lot of investors now taking losses before the end of the year. To me we are going to continue going down until sometime near the end of December where we will have a relief rally. I don't expect that to turn things around on the upside for awhile until later sometime next year. In the macro world I'm looking for the economy to slow and the Fed to start lowering rates. You and I can agree that the real area for continued growth is technology. It just doesn't exist anywhere else... Not in autos, foods and a lot of retail. So we have had what I like to call the "Blowdown Effect". The good being taken down with the bad. A lot of new people got into the market for the first time in the last few years. Unfortunately a lot of them are getting a lesson that you have to invest in companies that are actually making money and have a business plan! Did we have a mania? Yes I believe so but as you know this market move will just create opportunities for the ones who have the guts to step up to the plate and take some long term positions. I'm starting to see some pretty good bargains but the economy and the Fed have to be listened to. The funny thing about the markets is that they will turn upwards before the Fed significantly cuts rates. My gut feeling is the next two weeks should be the best time to take long term positions for the next cycle. Time will tell! JMHO. Eric

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