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Strategies & Market Trends : Rande Is . . . HOME
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To: Softechie who wrote (46728)2/6/2001 3:53:53 PM
From: American Spirit  Read Replies (1) of 57584
 
What falling knives? Almost everything up today. And as for your prediction that techs will fall, you seem only to pick the former highest fliers. I have never bought any of them anyway though I wanted YHOO at $24 but just missed it. No one believes just because a stock has fallen 60% it's a bargain. We're all adults and we look (or feel) at the real value. The products, the recovery probaility, the cash, the PE, the market cap, the competitive environment. Actually many-many tech stocks have been superb values lately, off 60-99% from their highs. The only trick is picking the bottoms. Is $27 the bottom now on SUNW? Likely it is but we won't know until it's proven. Otherwise I fail to see why or how all this new money would dump their techs near the bottom so we'd go re-test the January 3 lows. Just not going to happen IMHO with the Fed helping, a 2nd half recovery expected and disappointments all priced in (sometimes more than priced in). If you're going to short stick with stocks at over 100 PE and maybe you'll make money. But GE, LU, ADBE, SUNW and CSCO around the 30-40 PE range are not over-priced by any means. And neither are VZ and FON at 12 PE. Those are the main techs I own now. Let someone else buy CIEN at 100 PE. I remember owning it at $8 when bashers said it was going to $2. gg One of my worst trades doubling my money on that.
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