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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 153.97+1.3%10:04 AM EST
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To: Ian@SI who wrote (5297)5/5/1998 10:48:00 PM
From: MikeM54321  Read Replies (1) of 10921
 
To all,
I just read Bill's market wrap column and had to share it. He has a way with words: >> Asia was a sea of red ink again last night. Malaysia, South Korea and Thailand were all down about three percent. Hong King was the big loser, while Indonesia was hit for a two-and-a-half percent loss. The disturbing part about Indonesia's drop is they just received the money the IMF had promised. I know that the geniuses on Wall Street proclaim that Asia is behind us, but Asia is not behind us and will continue to get worse....The S&P opened down about a half a percent this morning. It's interesting to note that, following the turmoil in Asia, there was a flight to quality, but that safety was found in technology, of all places. The stocks that did the best right off the bat were the semi-conductor capital equipment stocks; the very companies whose prospects are most tied to Asia. If it weren't so sick it would be humorous...Obviously, in this environment there is no attempt to try and understand the businesses. It's just one day of random speculation followed by another.<<

This is one of the rare times where I am in complete agreement with Bill Fleckenstein! He seemed to hit the nail on the head to me.
MikeM(From Florida)
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