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To: Terry Whitman who wrote (41662)	11/28/2000 11:09:45 PM
From: Mike M2	Respond to of 436258

Terry, as I have told mythman tough love works in mysterious ways -g- I suspect someday they will do a story about die hard bears on the internet who withstood the economic violence of a debt fueled stock market bubble. ho ho ho Mike

To: Terry Whitman who wrote (41662)	11/29/2000 1:56:05 AM
From: chic_hearne	Read Replies (1) \| Respond to of 436258

Looks like Big Blue is gonna need a 60 Million share flush day before this market bottoms. What's really fun is to be making money while the clowns go up in smoke..<eg> Terry, I think many on this thread are wrong about IBM. I'm not defending them one bit just because I happen to work for them, but looking at the big picture. I hate to say it, but I agree they are the poster child for financial engineering and in a declining economy, face risks like any other company. The point I'm trying to make is this. What we are seeing is a rotation from absurd P/e ratios to less absurd P/e ratios. As far as financial engineering, it won't be important IMVHO until someone points out that companies like CSCO, MSFT, and INTC have terrible YoY comparisons if you only look at operating profits. Therefore, I believe IBM will be one of the last to fall simply because as people are exiting tech they are doing it with the high P/e high Price/sales stocks first. If you take IBM's numbers at face value, they fall into low P/e low Price/sales compared to just about any other tech. If it's a short and hold, go for it. If you're looking for an immediate drop, I believe there's better routes to go. I agree with you, when the end is in sight there probably will be that 60 million share washout on IBM, but I don't see that type of bottom coming anytime soon. FWIW, chic