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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Venkie who wrote (4306)	9/28/2000 6:25:48 PM
From: Ex-INTCfan	Read Replies (1) \| Respond to of 65232

Definitely not a good market. Personally, the only tech stocks I'm comfortable owning are those that have crashed. Sure, I own others, but they don't make me comfortable. The stocks I own that have crashed include MSFT, INTC, NOK, QCOM, VIGN. Even VIGN causes me worry. I know this is not a popular position, but there is no doubt in my mind that we are in a bear market for tech stocks. We have been seeing a rotating correction. Some stocks are beginning to look like bargains, while others are way overpriced. Personally, I believe we need to wring the speculation out of this market before we can move forward. This Euro thing is temporary. The high oil prices are temporary. There are great things ahead of us, but you can't convince me that a PE will grow from 200 to 400, or from 400 to 800 in this environment. The silver lining, IMHO, lies in the stocks that have crashed and are of high quality and have good growth prospects. We can pick them up here at decent PEG ratios. I'm not buying any more stocks in the near future because I think I can get a big pop out of them in a short period of time. I'm taking a more traditional "investment approach," the same approach I've always preferred but have not been using for most of the past year. I'm looking at 2 or 3 years down the road, AND at valuation. INTCfan