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Technology Stocks : USRX
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To: damniseedemons who wrote (12340)2/20/1997 4:28:00 PM
From: Greg Jung   of 18024
 
Sal, I think you've got your sector switch backwards.

After perusing the NYSE stock prices twice, 1) The stocks I found
near their lows looked really sucky. Here in techs you have Cascade, C-CUBE, and other qualities on sale. 2) PE ratios were generally in the 20s or better. The market has increased 2x since it was at 3500,
when was that?

In sum, everything is expensive we have a uniform PE .gt. 20 condition on a market in a good economy but, who grows by 20%? Value: what is the dividend yield these days? Look how really excellent earnings reports are required for a stock to maintain price, earnings do not continue increasing by 20% in an economy growing by 3%.

I think the best investment time is again at hand - on the short side with individual stocks. If I were adept at that I'd be drooling over some of these stocks on the nasdaq.

Greg
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