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Strategies & Market Trends : Rainier's Column -- Ignore unavailable to you. Want to Upgrade?

To: HeyRainier who wrote (33)	4/4/2000 1:12:00 PM
From: HeyRainier	Read Replies (1) \| Respond to of 106

Nasdaq is off 27% from its March 10 peak, and about 24% from its March 24 peak. With all this yawning on my cash (100%), you'd almost think I was in a coma. This 'cub' doesn't like the technical damage across a wide spectrum of issues. Some names are getting interesting though at current prices. In examining my first quarter 2000 returns, I netted about 71%, with maximum drawdowns around 9% from each peak to trough. Since the close of March 24, I have been in 100% cash. A random thought: to an extent, the magnitude of the discounting mechanism of the stock market is proportionate to the rate of technological change that industries are subjected to. That would mean bleeding edge tech that actually executes will have tend to have the greatest reward (and overvalued status) in as short a period as possible, but interestingly, with the non-executing tech name that is doomed for obsolescence, the opposite (i.e. undervalued) is not necessarily a conclusion to be reached. Just a thought. Rainier