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Politics : Formerly About Applied Materials

AMAT 268.79

+4.6%

3:59 PM EST

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To: robert b furman who wrote (50070)	8/2/2001 10:33:57 AM
From: Kirk ©	Read Replies (3) of 70976

Nice post. I see the bears now making the same mistakes that the mega bulls did at the top. The mega bulls didn't acknowledge that valuations were out of whack and they DID NOT take profits off the table at or on the way up to the eventual top. They looked foolish when we crashed. Now we have the market standing on its head and the "smart" looking discussion posters are the "shorts". My guess is many will be stuck covering and then be at levels too high to get in and enjoy good gains. I am reading denial from those that are just in cash also. Good news comes out and they, trying to justify sitting in cash waiting for a bottom, will say it is "just rumors". It reminds me of how many of us were saying "but orders are still going up" when the Book-2-bill changed slope at the top and started to decline. Nobody rings a bell at tops and bottoms despite how much we'd appreciate it. I've always made my best money buying great companies with good management teams in downturns where they spend a huge amount on R&D or capital equipment so they gain market share and do better then the competition when the market really does turn. Believe it or not, last month I was adding to my internet shares and nearly have a double in the shares bought (still under water overall in that sector, but not too bad due to limiting exposure). Bought some telecom also... with profits taken from this sector. The Market has been predicting things pretty well. I just can't imagine being fully in or out as it is too easy to miss out on tops AND bottoms. I want cash to buy when the market is low and I want good exposure at the bottom when the markets take off for no good reason. Anyway, great post. People should read it again! Kirk out

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