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Politics : Idea Of The Day
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To: steve susko who wrote (15471)12/11/1997 12:16:00 PM
From: Gaston Teran  Read Replies (1) of 50167
 
This pullback is deserved and more fundamental than speculation or fear IMO. I think Asian troubles will negatively affect blue-chip coporate earnings. However, it's not going to cause huge losses Oracle style. Basically, I don't know what to expect this afternoon but the drop should stop with a day or two free of earning warnings. The good thing is that we aren't overly overvalued anymore (8100 is a bit too high for me right now). Same with the Nasdaq, it's 80+ drop this week is healthy.
As far as techs, Compaq is my favorite right now. I picked up some CPQ and a little BA this morning.

Gaston
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