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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (124089)	9/18/2000 12:23:25 AM
From: Rob S.	Respond to of 1580429

So? There are lots of shares coming out of wraps from acquisitions, junk bond conversions, and unwindings. The trend recently has been to hold back tons of stock from well after the IPOs. The figure is from a research report I subscribe to. I don't try to analyze this too much - just look at the charts and see what is going on. During the past three years up to the first quarter of this year, the "market" evolved into a highly diverged set of markets rather than a single "market". The divergence between tech and pseudo tech internet sectors and the rest of the market became the largest major market divergence in history. The only other time a similar divergence occurred was possibly when money flowed into railroad stocks several decade ago. During the past few months that divergence has narrowed a bit. The mid cap, value line, and small cap indexes are all near new highs and have held up extremely well during the latest round of NASDAQ high tech led selling. Growth may still be a very heady mantra but it has lost some of it's psychedelic luster with investors. Sooner or latter the trip wears off and ongoing reality sets in. Tech sectors are a good place to invest - if you have a long term view or are agile at swinging in and out of the latest love fest sector. On the other hand, many tech sectors are priced to near perfection on three or more year out earnings expectations. The days of easy money are probably behind us for a while longer as the market continues to digest the go-go run up we have seen.