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Technology Stocks : FSII - The Worst is Over?
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To: Donald Wennerstrom who wrote (1548)10/25/1997 12:22:00 AM
From: Kent Sarikaya  Read Replies (3) of 2754
 
Don, what a memory. Yep, this is right where I sold and believe me I thought long and hard about that today. I put my additional money into AFLX last Thrusday after they had very good earnings, positive outlook for the future and improving margins. Then all the mess started.

There are many bargain looking stocks out there. This craziness could carry on. Tonight's the first night in a long time when Lou Rukyser didn't look so happy or positive. I think he wanted to be, but knows this could trigger the big fear factor and who knows where things could go.

I will be watching the Hong Kong market Sunday night to hopefully breathe some relief. If it holds up then I think we will be ok. If today was just a dead cat's bounce over there and selling picks up Monday, I don't know how much more we could go to, if 25% wasn't enought perhaps 30%.

Unfortunatley, much of the street is run on psychology and fear instead of pure logic and numbers. This is the kind of stuff the bears have been looking for so they could justify being out of the market the last several years.

No doubt though that the techs have taken a major beating and I'm surprised more aren't out saying the techs have corrected, that has me worried also.

Sorry to be down, but a very disappointing week when I expected a much different one. Hope the worst is behind us!

I don't want to end on a negative note, but many beaten stocks did close up quite a bit from there lows for the day. They were highlighted on CNBC during the market wrap.
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