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Technology Stocks : PWAV- the hot new IPO
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To: Rich Powers who wrote (1190)6/16/1998 12:31:00 AM
From: Rob S.   of 1491
 
No doubt that PWAV and many other tech stocks have been beaten up too much and are now under valued. However, there is some reason to believe that the market won't come soaring back quickly. During the past few market corrections, the individual investor pretty much saw it as a opportunity to buy. For instance, during last October's sell-off the individual investor did not take money out of mutual funds or sell stocks directly. And when the institutions sold off, the small guys came back in strongly and the market started moving up.

This is different. Equity mutual funds have seen a surge and movement into bond funds and utilities and out of equity funds. The funds were at precipitous levels of low net cash reserve position - a point where any withdrawals have forced a corresponding sale of stock.

My guess is that we will see a couple more weeks of decline before the market rallies much.
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