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Technology Stocks : RATIONAL SOFTWARE- BUY OR HOLD
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To: diana g who wrote (2243)3/6/1998 10:49:00 AM
From: Czechsinthemail  Read Replies (1) of 3115
 
diana,

I think the likelihood of downward revisions on earnings may temper and perhaps reverse some of the market optimism that has helped buoy stock prices. The problem with downward revisions is that it simultaneously changes expectations so that suddenly expected PE's are higher and it changes sentiment so that people become more skittish about holding stocks and more inclined toward profit-taking. So I guess I would say I'm cautious. I've been selectively pruning.

Of course the market doesn't consult my opinion before moving up, so I may very well be wrong. The market has been surprising a lot of people by shaking off bad news. But then again every so often a crash does happen. Consider the famous last words of the commander of the dirigible Akron:
"Prepare to crash!"

good luck,
Baird
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