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Technology Stocks : (LVLT) - Level 3 Communications
LVLT 53.630.0%Nov 1 5:00 PM EST
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To: Phil Jacobson who wrote (505)3/24/1998 12:08:00 PM
From: ahhaha  Read Replies (2) of 3873
 
I can't give you any substance because there isn't any substance. There isn't any company yet, so how can there be any substance?

You aren't taking into consideration that prudent speculations are reasonable during unprecedented bull markets, but what if that condition abruptly changes? We have a growing inflation problem that is being masked by the strength of the dollar. We are nearing the end of that strength. When it ends, interest rates will rise rapidly. The slightest hint of rising rates will cause the market to crash. The FED can do nothing but might even start jawboning an official acceptance of higher rates in the form of "pre-emptive strike". They would do that to intentionally get the stock market down to lessen the severity of the crash. If they don't, suddenly some day in the fall, the DOW would go down the limit intraday, and then would be closed for a week. They'd open it up down 2000 points somewhere near 5800. Even with a more gradual engineered decline, L3 would be put on hold at best. The paper you presumably hold would be worthless.

I suspect you have more time. Conditions are not right for the downside yet. We need sideways action for months across the summer. Tradition is it starts down in August. International forces can change that quickly and there's no assurance about the need for a broadening top, but the expected increase in oil prices should increase the likelihood of the broadening. Oil price increases are are intrinsically deflationary and will mitigate the international propensity to inflate affording more time to the denial of reality.
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