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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.03

+1.0%

Nov 21 4:00 PM EST

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To: American Spirit who wrote (79593)	7/7/2001 5:37:58 PM
From: mishedlo	Read Replies (2) of 99985

Who give's a rat's ass how far something has fallen? ARBA has fallen over 90%, CMGI, AMZN et the same I believe. What about RHAT (99% guessing). Some will go under. Is something an even bigger buy when it is down 99.5%? Why are you so concerned with how far something has fallen? These stocks have horrible PEs, fundamentals that are not going to change any time soon. Perhpas there is a trend here. First the total 100% joke garbage falls (like Etoys) Second the 99.9% crap like AMZN falls out Third anything fiber takes a hit Fourth Chips take a hit Now we see software like SEBL VRTS MSFT etc standing tall (relatively). Remember when they said storage would never fall. Well we are hearing the same crap about software right now. Add QCOM to that mix as well. One by one by one they all fall, recover a bit (some more than others like software) then they do it again. Look at JNPR and CIEN. New 52 week lows. By your standards those should be screaming buys. By any rational valuation, they should be at $8 a share and they could easily get there. As long as you see some total 100% garbage like HOMS at 35 or whatever, you know the bottom is far far off and may take years to get there, one ratchet at a time. M

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