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Technology Stocks : Vitesse Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: Dr. Id who wrote (3380)	2/29/2000 1:13:00 PM
From: Bruce R. Schlake	Respond to of 4710

Forget the market, look at each individual stock you own as a company and what they offer for the future. Of course the market will go down again, that is what markets do. I, like you keep watching the market climb and watch in amazement. No one knows when it will go back to reasonable valuations, if ever. But market timing is a loser's game.

To: Dr. Id who wrote (3380)	2/29/2000 1:22:00 PM
From: Chuzzlewit	Read Replies (1) \| Respond to of 4710

JDB, There is no paradigm shift in valuations. This is just one more bubble that will eventually burst. VTSS is now selling at around 125 x est. 2001 earnings with earnings growth expected to be in the 30% p.a. range. In something over 1 year I have seen the valuation of my investment quadruple for no other reason than momentum players piling on. There is no reasonable financial model that justifies the current stock price, let alone the $135 target. I am a great believer in this company, but I am very uncomfortable in playing the greater fool game. I haven't sold yet, but I'm getting a very itchy trigger finger. TTFN, CTC