Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : John, Mike & Tom's Wild World of Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (1896)	10/6/2000 3:48:21 PM
From: John Pitera	Respond to of 2850

thanks tim, I've been out of the mostly loop. it seems like I've gone to cash 3 times in the past 5 weeks, then buy some stuff and then throw most of it back like fish that are too small -g- ----------- Cramer pens a good missive....... Industrial Stocks Are Headed the Way of the Dodo By James J. Cramer 10/6/00 8:13 AM ET Rip Van Karen wouldn't recognize a thing! If my wife were to come back to work, she would be in shock. All of the big traders of her day, the Graces, the Crown Corks, the Owens Cornings, the Hercules, the Armstrongs and Owens Illinois and Mascos seem to be disappearing before our eyes. It is amazing to see the destruction of value in the old industrial-America stocks. So many of the companies that were involved in basic cyclical industries -- steel, copper, plastic, wood, paper -- seem to go down every single day. They are without any supporters or believers. They are headed to oblivion. I can't stress to you newbies what it is like for this seasoned stock trader to watch the mainstays of our business just 15 years ago disappear one by one from our screen. They are a sobering reminder that, other than tech and a couple of financial, drug and entertainment and oil companies, most basic industry stocks can't generate enough growth to attract investor capital. Surely there must be some money to be made in these basic industries. Surely there has to be a case made for some steel maker, some gypsum board maker, some company that sells products to Home Depot or to contractors. I find it so sobering to see the destruction of the Federal Moguls and the Office Depots and the Shopkos. I can't believe where the Louisiana Pacific and LTVs and Bethlehem Steels are trading. What is it like to work at these places and watch your stocks go down every day, no matter what? The disconnect between nontech industrial America and tech America has never been as wide -- and that's after the giant tech selloff we have had.One day, we will study the case of the great disappearing industrial stocks. We will have authentic snapshots of the decline, such as the list of "Changes Down" that gets published every day in the paper. The stocks themselves have the feeling of collectors' items. One day maybe they will trade them in a special section of eBay. Until then, I wouldn't touch them. Random musing: Memo to Procter & Gamble folks. Does anybody have a copy of that widely circulated memo about how P&G didn't like priceline.com? I need it. Please send it and I will keep it anonymous.