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Pastimes : Home on the range where the buffalo roam

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To: Boplicity who wrote (10073)	2/12/2001 1:54:41 PM
From: techguerrilla	Read Replies (2) of 13572

Was I ever wrong, Greg . . . . when I thought this market was going to start tolerating high PE's. Quite the contrary may be the case. Any whiff of bad news and an entire sector gets shot. Look at EMLX today and how it affected two excellent companies: NTAP and BRCD. I'm beginning to think that the only sensible thing to do these days is to scope out stocks with high PE's, buy three-month out puts slightly in the money, and patiently wait for those companies' sectors to get whacked. The warning for this all goes back to Qualcomm last year. PE's like 139 (NTAP), 297 (JNPR), and 266 (BRCD) are simply too vulnerable now. Your thoughts about being "all over" JNPR if it gets below 80 might even be questionable now. I'm sure no expert, though. Check out RIMM. It's PE is 1110. Is there really any way that stock can be traded at that kind of PE for much longer in this market? /john

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