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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: BWAC who wrote (39405)	5/7/2002 10:28:31 AM
From: Joe Stocks	Read Replies (2) of 53068

>>Who's calling a bottom?<< I think that anyone that comes out and says they are buying at a certain point when a equity has dropped is implying that they are calling a bottom. They may try to protect themselves by saying that they are not calling a bottom but their actions speak as if they did. I remember at one time AOL was said to have bottomed at 30. Many agreed and indeed we saw a bounce. But, the long term trend had not changed. I think when you say that I am buying this or that at today's price because I see long term value you are calling a near bottom if not the bottom. In the ORCL example I believe that the tech industry and ORCL offer too many unknowns to make that call. I had a friend on another board that bought ORCL leaps back 2000 for 2002 saying that ORCL would certainly be worth $30 by then. In a bear market "certainties" are hard to come by. I can't believe there is so much support for buying falling knives. Are we not suppose to wait for some base building? In this case I also don't believe that the fundies support much higher prices versus the risk. Joe

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