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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 73.99+3.1%Nov 12 3:59 PM EST

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To: James A. Shankland who wrote (23781)3/19/1999 4:49:00 PM
From: The Phoenix  Read Replies (1) of 77398
 
Yes,.. all good things must end. So, why now...that is the "pregnant question".

So far as I can tell the cycle you so eloquently positioned breaks because, as earnings weaken and the stock market corrects, individuals invest more. I think it will take more than a 20% correction to significantly affect spending behavior and given that so much of the market is individual long term investors I don't see this happening. I do think what COULD change the dynamics however is increases in interest rates. THAT might have a pretty significant dampening effect on equity valuations and might also cause investors to look elsewhere for investments. Still, even if that happened.....3000...? I just can't see it...

OG
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