Applied Micro Circuits Corp (AMCC) Message Board

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Technology Stocks : Applied Micro Circuits Corp (AMCC)

AMCC 8.450

0.0%

Feb 3 4:00 PM EST

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To: techanalyst1 who wrote (1018)	12/2/2000 10:38:52 PM
From: Raymond Duray	Read Replies (3) of 1805

I agree and disagree. What you are observing is the natural decay of IPOs, they are rather like radioactive waste. The public market is simply a dumping ground for yesterday's great idea. What bucked up the NAZ 100 since Oct. '98 was the liquidity provided by the Fed. What you are describing is the natural course of events as second rate companies are dumped on the naive retail investor as insiders race to the exits and underwriters manipulate their over-allocations for their own benefit. You can't deny that the NAZ index moved up. You are looking rather at the detritus of the market. My point is that there's a heck of a lot more detritus about to become apparent in the public markets It's been a stealth bear market for at least 2.5 years. So, I'd say with the exception of the fool's rally after Gore concedes, we're looking at a bear that is not in stealth mode for the next 2 1/12 months. Do you see it otherwise? Best, Ray

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