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Technology Stocks : Dell Technologies Inc.

DELL 122.70

+0.2%

Nov 18 3:59 PM EST

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To: Frank Ellis Morris who wrote (98864)	2/13/1999 4:56:00 PM
From: Chuzzlewit	Read Replies (5) of 176387

Frank, if you didn't sell when Nile spoke, why did you care? I didn't lose any money and I am long Dell. Of course, you may have been margined to the hilt when Dell was up at $110 and things are getting uncomfortable now. But that is always a risk when you choose to leverage yourself like that. I have been warning the thread about momentum investing in Dell for a month now. I pointed out that Dell's run up made no sense because the stock price was going up much faster than even the most optimistic growth estimates. BGR and JHG took issue with me on that (and I am sure both of them will acknowledge those discussions). BGR gave us an account of how he was virtually wiped out as a result of leverage. Throw in momentum investing at you have an explosive situation. Don't blame it on the analysts. Blame it on the gurus who tell you to buy DELL when it is up around $110 because they know it will go to $135 at earnings. Blame it on the pied pipers who tell you to margin yourself to the hilt because there is no way the stock can fall. In any event, BancBoston did not manipulate the stock price or cause the market to fall. It was the rapid exodus of those same momentum players who pushed the price of Dell up by 60% in the last couple of months who caused the price to fall. Do you remember all of those posts on this thread which had phrases in them like "waiting for Dell to be Dell"? Look at those folks for the cause of the fall. Dell is the finest company I have ever seen, but irrational investing based on momentum and technical analysis without regard to the underlying fundamentals is a disaster waiting to happen. Sorry to rant like this, but I am really tired of hearing that it is all Nile's fault. I am long Dell, and I intend to stay long Dell. CTC

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