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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: sammaster who wrote (41993)11/29/2000 4:30:42 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
i think the idea is sound in principle, but there is certainly NO hurry to get in. it will take a while for the stock to find its ultimate bottom, and then base for a renewed advance. even though AMD is eating INTC's lunch, the PC business is obviously SICK. as if to underscore what i just wrote, GTW warned this very moment.

i agree btw that the 'defensives' are horribly overvalued. they will eventually go the way of the tech trash, as has happened in the '74 bear (the utilities, food, drug stocks got KILLED that year. only inflation proxy stocks managed a strong showing, curiously the steel stocks too).

now it's plain to see btw. that the last hour of trading today was an engineered ramp to distribute more stock ahead of the GTW warning. the spoos are now at the low of the day.
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