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Pastimes : Home on the range where the buffalo roam

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To: Boplicity who wrote (8451)	1/4/2001 9:12:35 AM
From: mishedlo	Read Replies (2) of 13572

Greg, I for one sense more than just a little overexuberance here. Perhaps extreme over-exuberance. I full expect these gains to retrace at aleast 30%, possibly 50%. People on Vendit's thread are predicting Naz 5000 by next April. I say this rise will stall, it was far too steep, and there will not be a FED to pull the markets up next time. Perhaps a rise to about 2800, people will see that BRCM will be up 70% in a week and get nervous. The bears will jump back in and we retest yesterdays lows. That is my scenario, and I expect to have CSCO and RIMM puts in place on any stall. EMC's PEG at 3 is too absurd for me, no matter how far it has dropped. Yes market phsycology has changed for despair to overexuberance on an announcement we all knew was coming. I was on a thead yesterday, everyone was so excited, the bottom is in, what to buy etce tect etc. Gee the time to buy was yesterday not today. Some people never learn. Unbelievable. M

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