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Technology Stocks : All About Sun Microsystems
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To: Charles Tutt who wrote (5532)11/12/1997 6:48:00 PM
From: uu  Read Replies (4) of 64865
 
It is true that stocks are either overbought and overvalued or they are oversold and undervalued. There does not seem to be a middle ground! By looking at today's SUNW volume one can only conclude that more sellings are in order. I have a feeling the support level of $26 will be reached. Bsically what has happened to SUNW is that despite all the earnings, revenues, new market shares, new technologies and products that the company has achieved since last year at this time, its valuations are at the same level as they were before (if not lower)!! This is basically true with every high tech stock after today's close of the market! In otherwords after a year of hard work and accomplishments, SUNW among most other high tech companies that have been beaten down badly so much for the past 3-4 weeks, are all either going out of business or the mankind is going to be ruled by someone like the Ayatollah taking the civilization 1000 years back!!

This market sure makes a lot of sense to me!!!!!!!!!! And these sellers are sure thinking logically!!!!!! But then again I guess when it comes to a continuing strong bull market emotions rather than pure logic seem to have the upper hand in sharp short periods of, yes, idiotic sell offs!

Regards,

Addi Jamshidi
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