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Technology Stocks : Nokia (NOK) -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (4174)	4/14/2000 11:38:00 AM
From: tero kuittinen	Read Replies (2) \| Respond to of 34857

I'm not sure TA applies to this situation. We've never had a NASDAQ with the average P/E ratio of 100. People have pretty much made up the rules to explain this situation as the index has climbed. What happened during the fourth quarter of 1999 was simply inexplicable from the TA point of view. We've been all living in this Cloud-Cuckoo Land for some time now - beyond rules. What most concerns me here is the attitude of many new investors. Most seem to feel they have a God-given right to 50% annual returns on their investments. What happens to these freaks when they finally realize that the average share will return about 7% annually? Are they going to flip out or are they going to just learn to live with the fact? Tero

To: Wyätt Gwyön who wrote (4174)	4/14/2000 4:32:00 PM
From: t2	Respond to of 34857

Put call ratio over 0.90 and anything over .70 is supposed to indicate pessimism according to some reporter on tv. I thought the pessimism level is supposed to be even lower. In any case, very bearish sentiment. As we know it is a great contrarian indicator. During much of the selloff, Nok just held the 43 to 45 range. I think there is enough buying interest in this stock. Unfortunately, cheaper stock like NOKIA tend to lose more on a percentage basis, even though it seems illogical. I don't think we would have seen as a steep decline had we not split. Conversely, the rebound can be faster as well. I think the mutual funds, especially the tech funds, were probably selling some of their positions to preserve their gains or capital. Considering how some internet stocks went down 50 to 90%, you can't blame them for being nervous. Add the margin calls to that, we got something feeding upon itself. I almost forgot to mention the individuals like you and me who want to preserve their capital for better deals in the coming days. There has to be a catalyst that reverses this trend such as a Abby Cohen comment or from some other reputable analyst. Overall, I think NOK can make a run to the earnings if some calm returns next week. I am ALMOST tempted to buy some high fliers again like QCOM, Yhoo, BRCM etc...... but just not yet. If one can avoid margin, it is probably the best time to buy techs going into 2001 and returns should be pretty good, IMHO.