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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (8843)	11/16/2000 8:34:30 AM
From: ChrisJP	Read Replies (1) \| Respond to of 11130

Hi Wayne -- COVD is probably like the Fiber Optic companies were 2 1/2 years ago. DSL will have its day, its just costing a bundle to set up the infrastructure. Did you know that in June 1998 FIBR was a money losing company and did at 3 for 1 reverse split to stay listed and in Oct 1998 traded at $2 ? 18 months later it was at $150. -- Yes --- a 75 bagger !!!!! quote.yahoo.com So when things see mthe bleakest may be the time to buy .... if you believe. I personally don't believe just yet, but I might 4 - 6 months from now. Chris

To: Wayne Rumball who wrote (8843)	11/16/2000 8:45:49 AM
From: ChrisJP	Respond to of 11130

Well Wayne, I guess a retest of 2850 territory is inevitable. :-( The stock market is a funny place. It's supposed to predict the economy 6 - 9 months in the future, but sometime it does it by taking last month's info and this week's info and extrapolating a line out into the future. We have obvious signs that consumption is slowing. Rising unemployment will soon follow. Oil ? Lots of oil out there worth getting if you can sell it for over $25/barrel. So supply will eventually meet demand and the price will come down. Interest rate easing will then be possible. As you can see, I'm starting to change my tune from 5 months ago. Message 13861221 Especially since Internet build out and telecom stocks have come back down to earth. But the average S&P 500 P/E is around 25 (I think), but earnings for next year are expected to only grow at 10% - 12%. So maybe by the 1st quarter next year we can cross our fingers and hope we will see bottom (NASDAQ 2650 and S&P 1260 ?). Hopefully, that will be enough to take care of any overvaluation concerns. Just my thoughts, and of course anything can happen ! Chris