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Technology Stocks : Dell Technologies Inc.

DELL 122.55

+4.4%

Nov 21 9:30 AM EST

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To: Indelible who wrote (119176)	4/20/1999 8:50:00 AM
From: Chuzzlewit	Read Replies (3) of 176387

Indelible, I think your Y2K argument is incorrect. The ERP sector (along with software in general) has been hit with this issue for the past couple of quarters. It is not new, and so I don't see it as playing any roll in what has happened. I would also hasten to point out that yesterday's sell-off was quite mild. All that I am arguing is that when momentum thinking takes hold logic goes out the window. I had a heated debate with Voltaire on this issue around the time of the last earnings report. He accused me of being naive. Perhaps so. When stock prices are bid on some basis other than potential future earnings and/or cash flow investors are looking for trouble. And that's the problem with momentum -- there is no thought given about what underlies stock prices. And that's the problem with internut touts -- they suddenly shift their focus from long-term earnings and cash flow to "eyeballs" and similar rationalizations. But maybe I'm still being naive. TTFN, CTC

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