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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Mark The Trader who wrote (8594)	4/11/2000 12:38:00 AM
From: Hank Stamper	Respond to of 24042

From my 2c, I may purchase an unwanted quiver full of arrows, however: 1. This market became way over-priced relative to historical norms a long time ago. 2. Last spring, the breadth began to really deteriorate. 3. Greenspan began raising rates. 4. Except for a little Y2K drunken bash, Greenspan has been shrinking the money supply growth. 5. Greenspan has continued to say: 'inflation is on its way and I will tighten until I think inflation has been licked.' 6. There is an old Wall Street saw: "Don't fight the Fed." Many, however, said that the Fed cannot harm technology stocks. That was wrong. 7. The markets really went strange just after the new year. New money entered the stock markets in record numbers but prices in the broad markets were flat or down. An ever narrowing number of stocks went up in an upward sort of buying panic. Since the money was flowing in and prices, except for the narrowing few, were flat and dropping, it looked like what wall streeters call "distribution." I had been very cautious--I held JDSU (other than selling a block early on at double my original stake) for over a year and one-half--but sold in mid to late January. I saw the price appreciate where I sold but, for me, the decision was right. I think my decision for me is still right as I reckon the blood letting is far from over. The condition of the markets has not got better. It's a lot worse now. I think. With all good wishes, David Todtman