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Technology Stocks : Dell Technologies Inc.
DELL 130.28+0.3%10:15 AM EST
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To: D.J.Smyth who wrote (32321)3/5/1998 9:23:00 AM
From: Joe Sabatini  Read Replies (1) of 176387
 
>>the base under which this bull market is formed is as solid as ice

What? A base of overinflated PE ratios? A base of blind, rabid investor optimism? Exactly how do you define strength when there is so little real value to be found anywhere? It certainly isn't in Dell. If you were able to get an honest answer out of most money managers, they would probably tell you that Dell is not a good buy right now and that they wouldn't put their own money in it. But they'll invest their fund's money in Dell because it's the 'herd' thing to do and because it's not their money.

All of the talk you have been hearing on the news about overvaluation these past few days is not just blabber, unlike most things you heard during the month of February. Perhaps the markets will get a sense of reality now.

Nothing goes up forever. The big techs will -not- be able to grow at the rates of prior years going forward. Perhaps that fact is now blindingly obvious because of Intel's warning. Unfortunately, many investors probably think that Intel in the 70's is super cheap. Well, let me clue you in...it ain't. And neither is Dell in the 120's.

Frankly, I'm hoping to get the DAQ back in the 1400's where it belongs. The Dow has no business being above 8000. Are companies like Coca-Cola and Gilette worth PE's of 50? Hell no! This is a ridiculous market and a suckers rally.

Joe S.
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