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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 683.47+0.6%Nov 28 4:00 PM EST
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To: Carl R. who wrote (14261)5/18/1999 7:25:00 AM
From: donald sew  Read Replies (1) of 99985
 
Carl,

What I am trying to say is that the internet will be the norm in technology, and as time moves on there will be more and more domestic and global competition in all areas of the internet. Of course some
areas of the internet will have more competition than others, as you
say. The point I am trying to make is that as competition rises, eventually earnings will be lowered, which in turn will bring down the P/E. So P/E's will no longer be at 500, but at 400 then 300, then 200, then 150. then .......

After the internet becomes the norm and the P/E's drop, there will still be new sub-technology which will sprout mini-manias, just as IOM did in the computer industry. When IOM had its mini-mania, it was only 1 stock, not 20/30/40 stocks at a time during this mania.

seeya
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