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To: KevinMark who wrote (4260)	11/10/2000 1:04:19 PM
From: Dave Gore	Read Replies (3) \| Respond to of 8925

The market is still saying tech valuations are too high. But with retail still looking weak, and fuel cell, healthcare, drugs and biotechs already up bigtime for the year, (even Tobacco and pollution control lately) what sectors do you rotate to? I know techs best, but not sure the best way to play the current market is to time temporary snapbacks in a tech stock. Some relatively boring, non-tech stocks are up pretty huge, even in the last few weeks. There must be other less risky areas to invest, whether you are a chartist or a fundamentalist. LOOK AT THE CHART OF SAFEWAY! You couldn't lose on SFY! What are the momentum stocks? There has to be a smarter approach than tech.

To: KevinMark who wrote (4260)	11/10/2000 1:35:44 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 8925

KM, I respect your opinion, and I trade based upon charts too. But, the fact is the COMPX is exactly where's it at due to the election and SOME negative fundamentals, such as DELL(should have been expected). I should have posted a more complete thought, although yesterday I think I did expand on my comments. Yes, I agree with you that the election is having an impact, but perhaps I disagree in a sense since I believe that its merely the latest catalyst in a string of catalysts that act on players emotions. Sure, the market may have rebounded, it may not have. Another catalyst may have come out and taken the election's place. Positive news in any tech issue is simply being ignored. Negative news is a death sentence. What many seem to ignore is that the market ran up to unprecedented valuations based on emotions and catalysts. For a long time folks were happy to find new justifications for valuations. Even for losing companies. Many issues were being offered to the public when they weren't hardly fit for the riskiest of venture capital players. But while the fundamentals appeared to be improving, even while many companies were losing money, the justification game continued. Emotions running high, and a willing and gullible public (and some pros I'm sure) were lapping it up, afraid through greed to miss out. Sanity always returns after a time, and now valuations are being readjusted. This process will not be short term; the market will not bounce to new highs just like that. Institutional inflows came in yesterday at an unbelievable pace when the COMPX touched 3084, then most sold at the close because of the uncertainty in the election, which obviously from today's results, still do not like uncertainty. I don't like to comment much on fundamentals because its not my bag, but I must say that with tech stocks in general, aside from maybe MSFT where govt litigation may play a role, I can not see institutions using the election as an excuse to buy or sell. How much real impact does one leader or another have on the tech sector? Really? the bottom line is that the market is very close to a very important psychological point (spring lows) and its bound to be choppy in here as players make up their minds. The fundamentals appearing to continue to weaken, that ol' justification game is pretty hard to keep up... As has been said many times, when the market fails to go down on bad news, better yet rallies in the face of it, we can start thinking about a bottom.