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Technology Stocks : Applied Micro Circuits Corp (AMCC)
AMCC 8.4500.0%Feb 3 4:00 PM EST
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To: techanalyst1 who wrote (1014)12/2/2000 10:20:37 PM
From: Raymond Duray  Read Replies (1) of 1805
 
OT: Back to macroeconomics, since AMCC is held hostage.

Hi techanalyst1,

probably the same as anyone who thinks that amcc is going to a growth rate of 5% anytime soon.

Thank you. -w- We shall see the results of natural selection soon enough. My bet is the Q200 warning for a real eye-opener for those still in denial. Look to growth rates of late 1990 for an idea about what is about to hit home.

a quick bloom last spring but lots of thorns the last 2 1/2 years. Just a few companies were able to show hyper growth and investors piled into those names.
You must have been in a unique corner of the market if you suggest there was grief for 2 1/2 years. Clearly, since the Fed flooded the markets with liquidity in the face of the LTCM debacle, the market has been flooded with too many dollars chasing too few stocks. This tipped last March, as the Fed began in earnest to withdraw liquidity in the face of excessive and extreme numbers of shares of stock coming into the public markets due to lock-up expirations, the runt IPO market of the summer and typical insider and institutional selling. The result? Too few dollars chasing too many stocks. Dollars got more valuable. Stocks less so.

Here's an interesting Wall Street truism: "90% of the hot money is always chasing 10% of the stocks." One way to grow rich on Wall Street, if you are not an insider or a banker, is to very closely follow the "chase rallys" similar to the one that occured from Noon Thursday to Noon Friday. But if you are asleep at the switch, you might as well let your corner bookie take your money away.

Best, Ray
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