Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: tommycanuck who wrote (89909)	4/11/2001 12:17:35 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

re: SSB upgrades chips - "because it can't get any worse" .... hello ? That reasoning for the SSB upgrade to the chip sector is un-freekin-beeeeeeleeeeeeevable ~ It's the flip-side to having to come up with 10 year discounted cash flow models & other new paradigm valuation justifications & metrics to justify the prior telcom/tech bubble valuations at the market tops - now; the reason to buy and to call a bottom here - is because things are soooo bad; sooooo bleak - that they : "can't get any worse" !?!?!?!? - man if that isn't a Chihuahua trap; I don't know what is (VBG)? The trap-door to that mindset; is that one had to allready have accepted that the fundamentals were correctly priced into these stocks allready... and many; including myself; don't think they were... some of these Semi's still had 70-100 PE's and are well above pre-1998 Cap Ex bubble levels. They oughta run this guy outta town on this commentary. He caved into pressure & clearly so imo; for being so bearish. Dan Nile now stands alone as the messenger of just how bad things are going to get & that NOW is NOT the time to be buying chips.... Well the DOW turned red - down 100+ pts and the NAZ is still at 1894ish with Cisco yet to report... Maybe well get some good risk vs reward shorting opps again...

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