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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: shamsaee who wrote (1455)2/28/2001 2:50:31 PM
From: donald sew  Read Replies (2) of 52237
 
Shamsaee,

>>>> . I find this gloom and doom over blown now and find the valuations of most techs pretty darn compelling <<<<

For the most part, I agree and I too see many HiTech stocks at value levels; however there are still a lesser amount of HiTECH stocks which still have high P/E's relative to historical levels. Unfortunately some of those HIGH P/E stocks are big stocks which will effect the NAZ/NDX significantly if they drop more due to their large market cap. For example if MSFT retest their recent lows, which would be about a 30% drop, MSFT would have a strong negative effect on the NDX since it is about 7% of that index.

For the longer-term I have already started accumulating and planning to get more.

As for the sell-off being overdone to the downside, I think that such should be expected. It was overdone to the upside on many stocks, so why shouldnt it be overdone to the downside. How many do you know who are unemotional when it comes to the market. If emotions are a characteristics of a market, arent emotions normally overdone in both directions. When something good happens, not just with the market, many become overly zealous, and when something bad occurs - depression for many. Its emotions.
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