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Technology Stocks : Kulicke and Soffa -- Ignore unavailable to you. Want to Upgrade?

To: scott_jiminez who wrote (3825)	5/27/2000 7:18:00 PM
From: Donald Wennerstrom	Respond to of 5482

Scott, You are right - I do get carried away sometimes. Particularly on the subject of the Fed. I mainly get tired of always hearing about how inflation is "just around the bend". Because we have had a good and growing economy the last few years, every week for the last 3 to 5 years I have heard people harping on how inflation is "bound to happen". "They say" - We just can't have economic growth without inflation. We still don't have inflation after all these years of posturing, but I will admit to one thing Alan had to fix. He had to take down the NASDAQ bubble. The "wealth effect" created by the NASDAQ run from October to March was incredible. Many people who had never been "rich" before were now suddenly "rich". They started thinking about new cars and new houses. I was one of those people. I had been planning to buy a new car, but I have since put that off for the foreseeable future. Well, Alan found the way to "cripple" the markets, particularly the NASDAQ - the bigger they are the harder they fall! In late April, early May, word got out that maybe 25 basis points wasn't enough, maybe 50 was needed. With that uncertainty, that was all the market needed - buyers became scarce because they wanted to wait to find out - 25 or 50 basis points? During the last 4 weeks in May, the NASDAQ is down 17 percent, the SOX-X is down 20 percent and KLIC is down 44 percent. And we still have the same situation - a lot of uncertainty in the upcoming Fed actions on 28 June. Unless the Fed says something prior to that time, very little will probably happen. I think it also raises the chances for the "top dogs" like AMAT, ORCL, CSCO, etc, to go down considerably more - that will also further take down the already beaten up stocks like KLIC. I keep hearing on the news that we need "capitulation" - we need more pain!! Well, if the Fed is not careful, we might get more "pain" than anybody really wants - including the Fed. But then, what do I know?? <gg> Don't mind me - I just have to let off a little steam once in awhile!<gg> I am not out to get anyone to change their mind. I know a lot of people disagree with me, but that's OK by me. That's what makes for good discussion. Regards, Don W.

To: scott_jiminez who wrote (3825)	5/28/2000 1:07:00 PM
From: Donald Wennerstrom	Respond to of 5482

Scott, Just a little follow-up to my note of yesterday on the subject of Alan Greenspan and the Fed. As I always do on Sunday morning, after I manage to become vertical and start my day, I retrieved my home delivery of the Los Angeles Times and started reading. One of the sections I always read is the "Opinion" section. Lo and behold, what should I find but an article entitled "Sacrificing Workers in War on Inflation". The article includes discussion of Greenspan and his policies, and makes several criticisms and potential outcomes of his policies with which I agree. I thought I would pass it on FWIW. latimes.com Regards, Don W.