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Strategies & Market Trends : Steve's Channelling Thread

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To: Road Walker who wrote (12679)	3/14/2001 8:49:52 AM
From: Zeev Hed	Read Replies (3) of 30051

To be more realistic, I would suggest replacing either SEBL or JDSU with WCOM. In fairness, since SEBL is the lowest of these 10, it is the one that should be replaced. I have taken ttm for earnings, I simply sum up all caps and all earnings and get the PE. If you can "justify" taking out JDSU that will lob off a $2.57 B loss out of about $30 B for the group changing the PE drastically. My last calculation had the PE at just under 30. As for today's opening, we have a good chance of putting in the third "exhaustion gap" on the naz to complete a better bottom. It is my feeling that the opening prices are going to be the lows for the day, a tough call, and frankly with only 8% cash, I'll have to sell to buy some unusual bargains. I see that I just got back MERQ at $38.125, lower than my last buy and a nice discount of $4 from yesterday's sell at the close. Too bad I was not "prescient" enough to see they'll give us another opportunity and did not unload NEWP and few others for some nice gains, well, c'est la vie.. Zeev

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