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

To: tejek who wrote (124602)	9/24/2000 12:09:04 AM
From: Rob S.	Read Replies (1) \| Respond to of 1570477

Yes. That doesn't mean that the "market" or tech sector (the tech sector is pretty much the NASDAQ "market" while the DOW "market" is something different - they don't always move together) won't head down further in the next few weeks. Maybe techs will head lower after the earnings release period. The technical indicators show the market in a trading range, with the leadership tech sector bouncing between resistance an support levels and unable to make new highs. I doubt we will see new highs in the tech sector before early next year. The value line index is very strong, the small and mid cap sectors look much stronger than the tech sector. It's pretty simple why: the market is adjusting a bit from the greatest divergence between darling tech sectors and almost everything else. Many small and mid cap "value growth" stocks look extremely cheap compared to the wishful "new economy" stocks. The big growth is everything mantra has given way a little. Don't get me wrong, growth is still king but when many tech stocks are trading at polyana best world, five year from now valuations, boring stocks with miserable 15%-30% sales and earnings growth start looking like a pretty good relative risk/reward - particularly in these volatile times.