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Technology Stocks : John, Mike & Tom's Wild World of Stocks
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To: John Pitera who wrote (2381)6/19/2001 4:24:20 PM
From: Logain Ablar  Read Replies (1) of 2850
 
John:

I ended up staying an extra day in Maine as its remanents hit New England on Sunday. Hit CT and MA pretty good too with flooding.

Yea I still have some corv @ 7. I knew its not the sector to play in but I thought $7 seemed ok. Basic rule broken is a company needs earnings and revenue. So while I should then luv it @ $3ish I'm just waiting in the weeds till the naz either has capitulation or has a sucessful retest of the april lows. Not investing anything in the space for now.

While we all know the market corrects to extremes the telco capacity and telco debt issue still has room to play. Companies with debt and no earnings (or positive cash flow to service the debt) are in trouble and even companies like corv will see balance sheets crumble.

Its happening all around, not just in tech. A year and a half ago demand was so high companies could sell and the purchasing area would just ask when it could be delivered. Now the purchasing area is saying the price is too high and they'll either buy from another or wait for the price to come down. Its getting brutal.

I was mistaken in thinking the employment losses would start to lessen after May. Actually looks like it may continue thru August now (and maybe longer). Part of why I think AG cuts another 50bp. He may have to take it back but if he doesn't do it it will be an ugly summer.

Hey on a separate note or two. In Maine gas was only $1.5 to $1.57 for 87 grade gas (CT lowest is around $1.70). Whats Texas like. Gas has pulled back over the last few weeks.

Also do you know what the average decrease in polutants is by using MTBE? I always get riled when I leave CT and go to an area not require to have MTBE and get around 20% better gas mileage. I figure its probably a 10% savings so we end up polluting more (by using 20% more fuel to go the same distance) and paying a higher price to boot.

Tim
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