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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: bobby beara who wrote (71796)	3/12/2001 12:23:22 AM
From: American Spirit	Read Replies (1) of 99985

Maybe in some cases but you can't say NT for instance with its 30 billion annual revenues and now 54 billion market cap are not major-major players in the world economy. You can pick on some weaker dot-bombs but they're already probably out of business. ETYS is gone. But a better small dot-bomb like SCNT (at least it almost makes a profit) has 180 mill cash and 170 market cap and many blue chip clients. LU for all its problems just snagged the huge VZ deal which no one notices. VZ itself (likely the most powerful telco on earth) has a puny PE of 11 and as GTE and BEL never had one north of 25. IBM is strong. Ditto MSFT. ORCL is badly hurt but way-way down. Yes, at its high the tech market was ridiculous. I never bought any of them up there and wondered why people did. (Actually I did buy one and lost 90% on a small buy I held) But now it's a whole different ball-game. Many of these techs are in fact value stocks. Cheaper than bread+butter, bricks+mortar, pharma and food businesses which have appreciated a lot recently. Sure there are reasons for downslides, but we have just had one of the fastest most violent sell-offs in history, erasing years of gains in 3-4 months. I'd say we're in store for a nice upside correction. 30% up from here would be no big deal. Many of these stocks were there just a week or two ago. Like EMC for instance which just shed 25% in a few days time. And EMC is one of the true dominant blue chips of the tech world.

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