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Technology Stocks : Oracle Corporation (ORCL)
ORCL 233.63-4.2%12:17 PM EST
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To: Elmer Flugum who wrote (16121)8/30/2001 6:08:40 PM
From: robert b furman  Read Replies (1) of 19079
 
Hi Len,

Well one thing for sure,we're no more than 12 points of risk - that's a whole lot more conservative than blow-off prices.

One more thing for sure is we're very oversold on a daily basis.

I use TC2000 and try to buy when moneystream and time segmented volume are very oversold.Today was such a day.Additionally the stochastics suggest it to be very oversold as well.

This market is really crummy and it is emboldening some shorts.Shorts should quietly be covering - when a bottom comes in it turns on a dime and the initial pop up is huge on a percentage basis.

Those lucky souls who buy the dips and get above water quickly are far from selling to the shorts as they scramble to cover.

It will take time but I think a year from now- buyers at this range won't be hurt too badly(if at all) and may well be doing better than the short term money rates pay,in particular after personal tax rates apply.

Sooner or later business will come out of their shells and invest in software that offers huge people savings and many savings that provide a quick payback.

In tough times those are the only upgrades made - savings upgrades.Once a competitor makes the install others will be forced to follow.

This is a sector that will be quicker to recover than any segments that deal with expansion for the sake of expansion.

Jmho

Bob
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