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

To: c.hinton who wrote (6267)	4/5/2000 4:41:00 PM
From: jackrabbit	Read Replies (5) \| Respond to of 11568

OT Chinton - Yes there has been a de facto censorship of people who do not join the rah rah chorus for our current stock market. Witness Charles Clough getting fired at Merrill Lynch, Michael Metz fired at Oppenheimer, Gail Dudack kicked off of the "Wall Street Week" TV show etc. Note that anyone who said in 1928 that the market was overvalued probably received the same treatment. I agree with you that we are in a mania that is unsustainable. The market now is driven by supply and demand and not by valuation. People feel like they need to "participate" in certain business areas without regard to the price they are paying for a piece of the pie. Several data points I have found interesting lately: * my waitress at a Chinese restaurant told me she has bought Qualcomm, Cisco and AOL * CNBC featured a WWF wrestler who revealed his secrets for making over 70% on his portfolio the last two years * the top prize on an MTV Spring Break game show is 10,000 "E-Trade Bucks" Add in a few flappers and flagpole sitters and it all sounds like the 1920s. BTW I am still 60-70% in the market, but am definitely much closer to pulling out than putting new money in. WCOM is one of my two big positions. Keep posting -- I have enjoyed many of your posts. I don't always agree, but do appreciate your perspective. Regards, JR