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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Poet who wrote (3797)	4/20/2001 12:10:48 PM
From: John Pitera	Read Replies (1) of 33421

The magnitude of the run up in prices, as well as some of these upgrades that feel like they are being made because people are getting left behind. Here is a good example that happened on the MSFT conference call as noted by dave N. and to with the NASD down 70%, I think the probability is that the bubble has been pierced... anything is possible, but Probable? Dave Nadig MSFT 4/20/01 10:42 AM ET I am on the Microsoft (MSFT:Nasdaq) call being held by Rick Sherlund of Goldman in the wake of their upgrade this morning. He opened the call by actually saying "We have been reluctant to recommend the stock based on valuation, but it's becoming clear that valuation will be subordinate to investor desire." This is the basis for their upgrade. Exqueeze me? This is scary bubble talk. I am a Microsoft bull, but even I am not long the stock just because I think the stock is "desireable" to investors. I am long it because the company continues to kick serious patootie in the market (Long MSFT).

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