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

To: djia101362 who wrote (10158)	5/10/2000 8:30:00 PM
From: t2	Read Replies (2) \| Respond to of 24042

djia, I think the AMAT earnings are pretty good for its PE ratio. I don't believe AMAT will drop much more for that reason. It is becoming too much of a value play with strong growth prospects. I noticed the volume pick up on the Nasdaq today. It could finally mean that we are now at the heart of that intense selling many technicians want to see. Surely, there will be margin calls tomorrow, considering how the Nasdaq100 got hit today. (i had previously thought the individuals were probably off margin by now) People had probably been going to the big caps after the internets/biotechs got hit. Now that plan has backfired. It is a good sign that people like you and me have gotten nervous. I started getting more aggressive in the last few day--should have waited a little longer in hindsight. I am sure a lot of people are very nervous---ie. there is fear! That fear has to be a good sign. I saw the same bearishness in October 98 and there appeared to be no end in sight.... and wave after wave of technical analysts (and fundamental analysts) predicted doom and gloom even after the market had tanked. That extreme bearishness was a bottom. I think only a few like Tom Galvin, Jeffery Applegate, Joe Battipaglia and Abbey Cohen were bullish back then. How strange that these are still the bullish ones at this time!! I think history will repeat. BTW. I know Abbey had changed her allocation but she is not bearish. Goldman Sachs just does not take aggressive stock portfolios like the others--they like balance. If she makes a bullish comment, we could be off to the races just on that news. Cramer was also bearish back then is what I recall. good luck