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Technology Stocks : Texas Instruments - Good buy now or should we wait?
TXN 176.29+0.1%Dec 19 9:30 AM EST
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To: Vijay Raghavan who wrote (1949)10/30/1997 10:25:00 PM
From: Bilow  Read Replies (1) of 6180
 
Wow. Those Jan 100 puts I bot a month or so ago for $2 are now
bid at $8. Kinda wish I'd held them for another week or so.

This puppy didn't look at all today, pretty much constant slippery
slide down from 142 1/2. In fact, most of the tech stocks slid
today, and closed at their lows. I suspect TXN will open
tomorrow down.

If we are starting a bear market, it would be useful to remember
how stocks are valued during bears. (As opposed to bull market
corrections.) In a bear market, the future becomes very uncertain.
Investors look at present results, not future possibilities. And
investors remember how to compute the fundamental ratios.
In hard times, most of the tech companies will have declining
sales and losses instead of earnings. Stocks will be bought
based on P/S (since no earnings) and good growth stocks
will get incredibly cheap. Keep your powder dry, you may
seem some incredible bargains in the next three or so years.
It looks like we will be entering a target rich environment, so
conserve your ammunition. Look only at fundamental ratios,
ignore prior stock prices, they don't matter anymore. And
always buy low.

-- Carl
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