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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Tony Viola who wrote (40080)	11/29/2000 12:40:09 PM
From: John Trader	Respond to of 70976

Tony, Thanks for posting this. Murphy does not have the greatest track record in the world, but I recall that during past downturns he was correctly bullish. Also, what has really changed since March? So the economy is slowing a bit and there have been a few Fed rate hikes. Sure the semiconductor cycle looks worse now, but isn't that discounted in the prices of stocks like AMAT here? Also, the semiconductor cycle is just that, a cycle, which argues for buying when stock prices are low. I think in certain tech stocks at least the decline has been overdone. I could be wrong, but I think one needs to remember that most of the guys wearing the suits on Wall Street were totally wrong about tech stocks last Feb/March. Remember the predictions of Nadaq 6,000 by year end from those smart, well meaning, guys like Ralf Acampora and Tom Galvin? Remember the "I told you so" kind of response from the Wall Street pundits when the Nasdaq hit 5,000? So why should this community of Wall Street professionals be right now? I don't consider Murphy one of these guys, he seems to think for himself at least. The crowd is usually wrong. Also, technology is our future, so many of these stocks have to come back at some point. Regards, John (bullish on AMAT - for those who can hold 1-2 years).