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Technology Stocks : Fastcomm FSCX (6 1/8), base now complete. Big Upside.
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To: Alan Aronoff who wrote (390)12/9/1997 2:46:00 PM
From: Johnathan C. Doe  Read Replies (1) of 802
 
I sure wouldn't want to own ANCR these days either. The little stocks are getting the $#%$ knocked out of them. The mid-caps techs look like hell also. I think we are headed for a serious tech stock meltdown once again. ORCL should be viewed as just the start of the melting down across the board. As the big multi-national stocks get killed, the smaller stocks will get massacred even more than they already are. ORCL proves that Asia is going to hurt earnings and more and more tech earnings warnings and disappointments are coming. A strong dollar should help small caps, but as we learned last year, they get killed repeatedly before they have there day. I don't see any January effect coming this year. The results of Asia will be surfacing more and more throughout that month and beyond. The next 4 months don't look good to be in the techs at all. I expect ORCL to bounce and then go much lower; just like WDC. WDC is continuing down with a P/E that is deceptive. The real P/E is much higher than indicated since the future is a negative, not a positive and WDC will be losing ground going forward. The big networkers should get hit here soon I would figure as they aren't going to make earnings expectations either.
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