MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Zeev Hed who wrote (76497)	5/4/2001 3:04:37 PM
From: Doug	Read Replies (1) of 99985

Zeev: The driving force in the Techs are the Telecom Service sector. Historically that sector had a free cash flow of five for a dollar of Investment. Today, freecash flow has dropped. It is now 3.5 sales for ever Dollar invested. The sector is losing money . Because of overcapacity and consequential price wars , it is impossible for them to acheive a free cash flow of 4.5 ( Break even). Those who are now suggesting a Bull run for tech stocks have conveniently evaded the question of Investment capital , cash flow , sales and Earnings in support of their Bullish stance.

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