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Technology Stocks : Newbridge Networks

NN 12.96

+8.3%

Nov 24 3:59 PM EST

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To: Glenn McDougall who wrote (6291)	8/31/1998 9:07:00 PM
From: Serge Collins	Read Replies (1) of 18016

Peppe/Glenn, I wish both of you the best. It's not nice to see people losing money. I wonder if we have seen many margin calls yet. That could come as early as tomorrow if the swoon persists. What is truly amazing is the fact that many stocks, in spite of this correction, are still grossly overpriced. Think back just two years at where Cisco, Dell, Microsoft and even Intel were. These stocks are still sporting huge gains. That wasn't the case in 1987. Back then stocks got trashed very badly and the international economic situation was nowhere as bad as it is now. Interest rates were a little on the high side and the U.S. dollar was weak which allowed the Fed some room to move. That room is not there this time around. These are the things that complicate matters this time around. I'm certainly not trying to dissuade anyone from holding or buying. We all have to make our own call here. In any event , good luck.

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