MEMC INT'L. (WFR -NYSE) The Sleeping Giant? Message Board

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Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant?

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To: ---------- who wrote (2789)	12/13/1997 6:55:00 PM
From: Zeev Hed	Read Replies (1) of 4697

Doug, in 84 we were at the first retrenchment from a powerful move that started in Agust 1982. The bear was more segments oriented. I think this time, we are toward the end of a major bull move (and I think the bull will resume next June, I believe). In this respect, I think both moves are retrenchements in ongoing bull markets. What is unique this time, and I think will reestablish itself as a driving force, once the overcapacity problems are resolved, is the inflation and interest rates picture is much more benin, we are on the verge of accepting into the consumer society a big chunk of nations that were never at the bounty table before and that will create very strong demand (which will reverse the curren glut in capacity). However, this time we also have a concentration of over capacity in a number of high tech areas, and thus suffering through that period will be tough. I do not think that we will get deep bear market bargains of 6 times earning and average book value for the market in general, but we will still have many companies going beggin for sub 10 PE and sub book value valuations. Zeev

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