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Strategies & Market Trends : The New Economy and its Winners
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To: Bill Harmond who wrote (5651)3/9/2001 7:48:52 PM
From: RMP  Read Replies (1) of 57684
 
We are now down to apx 2950 NASDQ points to 2052 which is a 59% drop in one year. If this is not the worst bear market for tech stocks it sure is close. Thinking we are close to the end I have been incrementally adding to EMC, JDSU, as well as initiating positions in QCOM and VRSN. I was looking to get in CHKP in low 50s and regrettably chickened out.

I have heard that the average bear market lasts one year, so if this is an average one it should be near the end. Because the decline has been so swift I hope that we will not languish like we did after the 73-74 bear market that took about 7 years to recover.

Some guest or commentator on CNBC or some other financial show was making the case for a parallel between the tech wreck and the so called Nifty Fifty stocks that included Polaroid and Xerox and said that companies like SUNW, CSCO, and INTL will never reach their highs and may take years to recover. I hope he is wrong.

There is even talk of the banking problems in Japan that could have disastrous effects on our economy as well as a general business slow down in Europe.

My fear factor is getting pretty high. In the past when this has happened it always turned out to be a buying opportunity. Hope I'm correct.

Sorry about the rambling…
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