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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Gopher Broke who wrote (82627)	12/10/1999 7:03:00 PM
From: tejek	Read Replies (1) \| Respond to of 1576611

RE <<<How would you describe it when you factor in the current inflated state of tech stocks as a whole? Seems to me that, whether it is a top or support level, AMD will be dragged down with the rest.>>> Gopher, I am not so sure that the tech stocks are all that inflated. First of all, most tech stocks (except for the large cap) have languished for most of this year if not for the last couple of years. Secondly, as the rally has continued it has spread to more and more stocks with the number of new highs expanding accordingly. The stocks going up today are not necessarily the ones that were jumping up a month ago. And this rally is becoming a small and mid cap one where most of the growth is expected to be in the next 10 years. Finally earnings are growing just as Asia and Japan are starting to come back from their recession (for an example) chips sales were up over 35% in Asia and Japan last month). I don't disagree that there is craziness like with the IPOs, linux and some individual stocks. But in most instances the increases are fairly rational. And don't forget this particular kind of craziness didn't start last week...its been going on for several years and when it gets excessive, market conditions or the Feds or the Brokers or the Nazdaq put down some restrictions like the ones announced this AM where the margin call restrictions were increased for day traders and things then cool down. ted