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Technology Stocks : Network Appliance

NTAP 106.38

-0.4%

Nov 18 3:59 PM EST

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To: Crystal ball who wrote (8810)	8/1/2001 5:19:57 PM
From: mtnlady	Read Replies (4) of 10934

"the recovery spike is here for good" Don't bet on it. Have company fundamentals changed? No, in fact everyone is reporting either flat, or reduced revenues. Forward estimates have not been raised by most companies. In fact the opposite is occuring which means no recovery in sight as of yet (except in our wishful thinking). Can you say 'distribution'? And guess who the 'goods' is being distributed to? That's right - you and me. Bear market, redistribution, short covering rally. I wouldn't give it more than a week tops before the selling (i.e. reality) starts again. For most companies their PE's are still way too high for their estimated future growth. I sold most of my shares a month or two ago. The last of my NTAP went today. Great company - no doubt - but we haven't seen the bottom yet. We will see (much) better entry prices for NTAP than what we are seeing today.

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