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: Jon Cave who wrote (89912)	4/11/2001 12:51:18 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

Jon - if you flipped those tech buys - you did good... EMC , MOT etc throw cold water on the market; Dan Nile speaks the truth & no one listens ... I wouldn't bet the NAZ closes in the green today. I still think we see sub 1500 NAZ and a 1250-1350 range seems like a fair-value given earnings, valuations, the economy & lack of visibility - as compared to hsitoric pre-bubble valuations. 1600-1800 is not good risk vs reward range for shorts; but I am far, far from tempted to buy tech here either. Imo; we have NOT seen capitulation and if Cisco's report doesn't trigger it - next qtr tech reporting should. I will begin to buy/average into tech sub 1500 & wouldn't have a problem holding solid names LT from those levels; but not untill then and preferably not untill we begin to either acquire some believeable visibility, or a beginning of an actual positive turn fundamentally. Maybe if the Fed surprises everyone & does NOT cut in May - we'll get that final washout leg down in tech ?

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