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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Arrow Hd. who wrote (21879)	9/22/2000 2:48:17 AM
From: Herschel Rubin	Read Replies (1) \| Respond to of 30916

Arrow, your treatise on analysts is fit to be framed! I agree completely. I have run several technology businesses and either I'm suffering from delusions of grandeur or I am correct in thinking there are many times where I know more than the covering analyst. As for the INTC pre-announcement, if stocks drop in the morning it will probably be one last time that IDTC can buy back some shares on the cheap (under $37). Do you hear that HJ? I've always thought one of the best buying strategies is to buy fundamentally sound companies that are discounted by unrelated news. INTC's woes are of less import to the market than just a few years back. Recall there was a time (about 4-5 years ago) when MOT was one of the main tech bellweather stocks and when it flinched, it brought the whole market down. Now MOT doesn't move the market as much. Tomorrow may very well be one of those days where the market gaps down at the open (futures indicate the Naz will gap down at least 90 points), but then traders will realize that INTC doesn't matter as much to the Nasdaq as it used to and they'll start snatching up already discounted issues. In other words, it is likely we'll see a capitulation day for the markets tomorrow. Big volume down in the a.m., slowing trading in the afternoon. Stabilization, followed by buying. If not tomorrow, very soon as earnings preannouncement period comes to an end. After all, market averages have been oversold - the Nasdaq is down about 10% in September alone. INTC's 3c earnings shortfall doesn't mean techs are going into a recession. Interest rates are stable. Inflation is relatively stable. The yield on the 30-year bond is about 5.9% (compared to 10% on the eve of the 1987 crash), so not much to worry about. Keep in mind those are foward-looking statements: "not much to worry about..."