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To: Crimson Ghost who wrote (75657)	10/5/2000 11:32:02 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

MSDW Trader says- "worst outflow selling in Tech since he's been in the business" On CNBC here... Says watch earnings announcements... more "name" misses the danger. Damn; how do you hold Tech here - if your company misses; instant 30-50% haircut ? Doesn't this never ending story of these 30-50% over-night haircuts ring home the fact that the valuations here to these Tech companies is beyond "irrationally exhuberant" ? Honestly; how could a Fund Manager stand up in a court of law - say a Class Action Suit about how reckless they "played" with OPM; and defend how he could be buying "ABC, or XYZ" at $100, but then when the company misses with reporting .22 cents vs. the expected .23 cents; the market cap gets cut in half for what fundamentally would reflect a 5% valuation adjustment. If these 50% haricuts in "name" companies do NOT endorse the reality of the entire money management industry virtually "playing with OPM" in a completely "irrational & fiduciarilly irresponsible" manner - what would ? This is absolute "madness of crowds"... simply amazing that "name,bellwether" companies can get cut in half on minor misses & no one is screaming for money managers heads for buying these companies at levels anywhere near here ? Imho; we get "one more" dip buying Tech rally; but then we get the real "Kahuna" wash out blow off... Anyone think that OPEC might be "gaming" crude down here as to not have to raise production in the next meeting; per their price band agreements ? - how convenient for crude to just dip below their trigger level right here ? We still have the ability to spike thru $40-$50 here imo & that will bring sub NAZ 2500 imo, if not DOW 8500 & NAZ 1850 and a complete BEAR feast. Oil costs still have NOT bled completely thru the market - still a few months away & a further spike; will implode this market. Tech can not match their prior growth rates; can't hit their comps - multiples must contract dramatically. Oil will cause a too-soft landing; if the Fed must cut to save the equity markets & ease the landing; the King Dollar falls... and you know what that means ~ Someone, anyone - give me a fundamental story on how the NAZ can possibly return to 4000-4500 in the next 12 mos given all these earnings revisions, misses, multiple contractions and the effect of Crude not even having bled thru the economy as yet ? ... this aint even a difficult call here.