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To: chic_hearne who wrote (41474)	11/28/2000 2:52:10 PM
From: pater tenebrarum	Respond to of 436258

you're confusing time frames. we were talking about an intermediate term low, from which a sizeable, and thus playable rally could/should develop, regardless of fundamentals. some might even argue that an 80% hair cut likely discounts a lot of bad news already. be that as it may, the target is purely technical, derived from the fibonacci relationships on the chart. this doesn't rule out that the stock may be falling a lot further eventually. i agree with you that one should be as open minded about the eventual downside potential as about the upside potential while the bull was still intact. the pendulum DOES swing both ways. that said, every time a corporate giant has floundered in the past, be it IBM or C (the latter was a rumored bankruptcy candidate for a while at one stage), it has generally paid to buy steep declines.