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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders

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To: Dave Gore who wrote (472)	3/18/2001 8:54:34 PM
From: David Lee Smith	of 589

SI sould mark your posts as one of the best. It's funny how bearish everyone is now. Imagine CSCO at 10! I think its going to $2!! It was $0.50 in 1990 and losing cash since. Propped up by fuzzy accounting (stock options and pooling of interests). But wait, CSCO wasn't alone. Many others companies sinned too, like MSFT. This is very unfortunate. The tech companies held great promise and many choose greed over development. It takes WORK to change the world, and it looks like get rich quick managements and investment bankers brought down a technology revolution that could have benefited millions. If any managements are reading this I challenge you to buy-back your disgustingly overvalued stock, even at these "bargain" prices. You won't. Check out the insider sales websites and just look at all the cowards lining up to dump their shares at these "bargain" prices. I think its likely to get very bad before its all over. However, don't hold your breath going short. This is a choppy market and the direction is down. However, there will be sharp 10-20% bear market rallies in the NAZ on the way. I think the QQQ is safe until the next round of earnings warnings in June. Actual earnings will likely exceed gloomy forcasts in April and the FED will likely have constructive things to say. The tax cut machine will continue to gain momentum. We are not in a recession, just a NAZ crash. The NAZ will not put us in a recession either. It will slow things down to about GDP of 0-1%. More importantly, the NAZ crash will teach a whole generation of new investors the meaning of risk. It will make IPO's more meaningful in the future. Technology companies will rebuild themselves with WORK and managements will manage operations and not earnings estimates. A better world will come out of the rubble.

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