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Technology Stocks : All About Sun Microsystems
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To: Steve Lee who wrote (44694)8/29/2001 9:24:39 PM
From: Bob Duncan  Read Replies (1) of 64865
 
Been a long time since I posted on SI. I forgot how professional everyone is here!

Anyway, I agree about MSFT. Even at the top of the mania, top execs where saying the stock was overvalued, that analysts couldnt keep projected 20%+ growth, etc. They were straight with everyone -- its just the analysts ran it up anyway.

Now, this is likely because most/all of their execs are set for life anyway in terms of stock options already cashed (Does their CFO care if MSFT goes to 20 bucks? Of course not)

The concern I have with this market (I have a small put position on SUNW) is that i STILL have not seen people bailing and giving up. Everyone I talk to (joe day traders, etc) says the "market always comes back" and things like "I bought tons of Global crossing at 15 because at 15 it MUST be a good deal (its around 4 now)"

The attitude here is the REVERSE of the attitude when the Nasdaq was at 3500. People were shorting like crazy, saying it cant go higher, etc.

Long term, probably you longs at this level are OK with this stock. Where is the bottom though on a stock with contracting (seriously) revenues about to report a NET loss? Do you just say "we will rally next Q because we must" or do you wait for some evidence that this will occur??

Seems to me at this point no one, short or long, has a clue. It is just throwing darts.
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