Eugene --
You're probably right. I'm such a creature of habit, I hate to make such a big change till we have to. (Have been in the same house for 25 1/2 years.)
Feeling a bit like Scarlett, "I'll think about that tomorrow. . ." :)
On another front, would someone explain why Dell and LU weakness is news? Hasn't everyone heard about their troubles ad nauseum?
NEW YORK, Feb 9 (Reuters) - Technology stocks tumbled in early afternoon on Friday as negative news on bellwethers Dell Computer Corp. (NasdaqNM:DELL - news) and Lucent Technologies Inc. (NYSE:LU - news) rained down on Wall Street, threatening to erase the sector's gain for the year.
``You can certainly scare people into running away from technology when you start seeing layoffs and signs of slowdown in the whole tech market,'' said John Forelli, senior vice president of Independence Investment Associates Inc., which manages $25 billion. ``It reminds people that technology is not a steady growth industry. It's a cyclical growth industry.''
I stayed up till 3:00 a.m. this morning listening to WCOM's and VZ's conference calls, and everything I heard indicates spending will be focused on fast-growing services. That means fiber.
I can understand why Cisco's warning spooked the market, but, again, the shift from Enterprise, ISPs, and CLECs to ILECs and IXCs further proves what's happening to the entire industry. I suppose with any major shift, it takes time for the full impact to be digested and appropriate responses taken. I wasn't investing back when IBM fell from grace, but I suspect there are similarities and I also suspect it took far longer to get the general market educated than it will take this time around. We live in the wild-fire era --- where news travels faster than a brush fire in a California Santa Ana.
Pat |
