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

To: Don Hurst who wrote (6210)	2/29/2000 9:43:00 PM
From: WebDrone	Respond to of 8218

Don, Contrarian? Me too! Web

To: Don Hurst who wrote (6210)	3/1/2000 1:47:00 AM
From: David W. Taylor	Read Replies (2) \| Respond to of 8218

Don, we have met and disagreed before but for the benefit of the other participants, I feel I must counter your miscalculated bullishness with some cold water. --- Sorry, Fleck is dead on with this one. IBM's own much-vaunted management are the main voice here. They have warned of falling earnings and falling earnings growth on two separate occasions in the last six months. Last October, when the stock dipped briefly below $90, the market did its normal thing and "bought the dip." Given these warnings by knowledgeable insiders, it would seem natural that the stock move down. Instead it went on a "tear" to $20 north of current levels. Maybe people finally stopped throwing their chips onto the casino tables long enough to read some of these statements. For my money IBM is a buy at around $60. The current price north of $100 reflects way too high a P/E. Don't shoot the messenger, just read the IBM management's own thoughts. Disclosure: I was short IBM when it plunged south of $90 and held on expecting to see the $70's. Stupid: I should have sold that day. I no longer have any direct interest on IBM short or long. David