Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: orkrious who wrote (4363)	11/9/2001 3:32:52 AM
From: LTK007	Read Replies (1) of 99280

Fleck at his best here<<The Quirk That Sank A Thousand Chips With the exception of 1999, which saw rampant speculation on the back of Y2K, semiconductor sales went nowhere during the last five years of the 1990s economic boom. It's interesting to note that from the fall of 1998 through the Sox's peak in the year 2000, the index ran from about 200 to 1200 on the back of this one good year. It was the movement in the Sox that has formed everyone's opinion about how wonderful these companies are, and about how they are supposedly early-cycle performers and all the other nonsense that passes for knowledge on Wall Street. That appears to be why these stocks can sell for such astronomical price-to-sales and price-to-earnings ratios and everyone still loves them. People should cut this chart out, tape it to their quote machines, and eyeball it good and hard when they feel the urge to buy semiconductor stocks. That doesn't mean that traders out there can't trade them from time to time, but anybody who wants to hold these stocks longer than a couple of hours is just asking for trouble.>>http://www.grantsinvestor.com

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