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Politics : High Tolerance Plasticity

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To: kollmhn who wrote (8)	2/19/2001 5:31:29 PM
From: jim_p	Read Replies (1) of 23153

kollmhn, You have some good points. My biggest concern with tech is the lack of capital. You can't have growth without capital, and I don't believe it will come back overnight. The lack of capital supports your not having a v type correction, which I agree. My second concern is there are still a lot of tech stocks that are trading way to high, but there are a lot of tech stocks trading like value stocks. It will take some time of sideways trading to work down the stocks still trading at excess PE's. My third concern is that the last tech boom was caused by primarily by two factors which are gone forever, Y2K and the excess capital from the dot com mania. Having said all that, I still believe the place to invest is the beaten up tech stocks that are trading at historically low valuations. In response to your #7 point, the story has very much changed. Oil is no longer in a bull market, and the bottom is unknown. Why invest in a sector, where there is a direct correlation to the price of oil with the stock prices, when oil is in a bear market? The future for oil is very bright, but you could get killed in the interim waiting on a short term reversal. Jim

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