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Technology Stocks : Western Digital (WDC)
WDC 175.96-0.2%12:25 PM EST
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To: Sheba who wrote (7332)11/10/1997 4:51:00 PM
From: Johnathan C. Doe  Read Replies (1) of 11057
 
Sheba, if you haven't noticed, the entire tech sector has turned bearish and has started a process of selling down that will continue for several more months. WDC has just been on the cutting edge of this turn in sentiment. Ascend I guess is the leader of it. We probably are close to a bottom in WDC, but the rest of the techs are coming down and will drop further over time than anything we are seeing in WDC. Expect widespread and deep drops in techs across the board. There will be no Christmas rally or any of that. This has been a strange year and seasonal expectations have always been wrong this year. Plan on Nov. and Dec. to be hell in the techs with huge and sharp drops coming in all the techs that are up since April or up period. We should see everything return to at least the lows of pre-April 22 and we might just see them beat.

I am currently watching COMS nosedive. Ascend has much further to go; I figure 11. FORE under 8. Westell under 9. Some to keep an eye on are Nextel and Winstar. It's going to get ugly, but the stormclouds are just able to be seen on the horizon. They are very dark. Not a time to be in the market in tech stocks. WDC might recover some while the rest of them get taken down deep.
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