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Technology Stocks : Gemstar Intl (GMST) -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (2809)	4/16/2000 8:49:00 PM
From: Jeff Bond	Read Replies (1) \| Respond to of 6516

Uncle Frank, It is a real shame, and unfortunately yes I think people can lose more than their hope and money. There is still the home, the car, the savings account, until there is absolutley NOTHING left. I am an investor of approximately 4 years, so I've only known the good times. Unfortunately, I think a lot of other investors are in a similar position. I have a dad who has continually cautioned of what Greenspan called "irrational exhuberence". I never listened to him until my account had lost about 70% of its value, then I checked in all my shares, which at least allowed me to remain in positive territory. I don't think all investors have done so, that is why I am truly worried for the time being. They will likely have to call in mutual funds, which could lead to more selling, and further price degradation. I honestly see a drop for the Nasdaq to the $2600 to $2650 level (or more) as being quite possible. It just depends if it's P/E ratio, valuation, psychology, or mutual fund redemptions that are used by institutions to define the bottom. It comes down to this, until we see a STRONG follow-through day, we have nothing except more pain in store for the forseeable future. I am humbled, huddled, but at least still dry for the time being. I am not sure other young investors are as well coached in being cynical of the market as I, and hence prepared to face the hard reality of sucking up a 70% loss in order to prevent a 100% plus loss (as margin can likely create). It is very troubling, and my dad has continuously repeated the message that ROCK SOLID blue chips (new and old ala IBM, GE, and INTC) are the ONLY issues that will be somewhat protected from the onslaught. I am cash, I will wait for a strong follow-through day, and I will resist margin for the forseeable future. Shame ... it really has hurt a lot of people, a ripple will resonate outward from these events, and likely magnify if this becomes any worse. I've noticed you have cautioned about such an event on the NTAP thread. Your posts are very educational, as well as informative. I compliment you on your analysis of the company, as well as your positive and helpful approach in dealing with new posters to the thread. Good honest advice is very hard to find, people have that in you. Regards, JB