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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: AlienTech who wrote (27905)	7/30/1999 5:35:00 PM
From: Logain Ablar	Respond to of 50167

Hi AT: I wasnt this nervous last oct since the US was the safe refuge, but now with asia and europe recovering there are other places to get value than buying over valued us stocks, In such a market large caps at first migth look safer and people will run to them, but you also got to wonder. If the US stocks sell off (due to overvaluation or any other reason) the european and asian markets will follow. We're their largest trading partner and when we slow down they slow down. If we have another rate hike it only hurts their currencies and if their currencies weaken the company stock weakens. So its not so safe out there and I agree there are better values on a trailing multiple basis. There are still good values here on a forward multiple basis. You just have to find the ones the analyst miss <g>. Still plenty of undervalued semi's (although I got squashed in a couple I thought undervalued so no recommendations here. The semi sector is over extended but looks like its going to run some more. Problem is where the bubble will burst. I'm also in cash except for CHKP. Its still a good buy, new product announcements in August and look at todays action, most of the appreciation was in the afternoon (market willing it will run to $95, with a few retraces) Just my take. Have a good weekend. Tim