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Strategies & Market Trends : Steve's Channelling Thread

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To: James C. Mc Gowan who wrote (26614)	9/8/2001 6:48:26 PM
From: Zeev Hed	Read Replies (2) of 30051

Jim, I still think that INTC is overvalued here, but the nature of the beast is that, when mutual funds decide to step back into the ring (because their customers keep sending them money they must invest), INTC and MSFT will be some of the first they will scoop up. I don't see INTC getting into "rational" valuation (such as is AMD today) for two more bear/bull cycles in my long term scenario (where the basic tenet is that over a long term, valuations will return back to the norm, but will do it through consecutive bull/bear cycles until earnings catch up with recent and current over valuations). Thus for this cycle a possible bottom just under $20 is the worst case I see, frankly, I would not be surprised if the year's low holds. Zeev

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