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Technology Stocks : Compaq
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To: Chris McConnel who wrote (22717)3/20/1998 4:27:00 PM
From: Diamond Jim  Read Replies (1) of 97611
 
I was curious, at this point would you short one of the indexes like the DOW, S&P500
or the Nasdaq instead of shorting individual stocks?

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Short the spyders, tough to do with "irrational exuberance" being alive and well. I think the PE of the S&P 500 is very near 22. I find it extremely high with CPQ, INTC, MOT, BAY all saying they will miss earnings.

jim
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