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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: larry who wrote (14483)	11/30/2000 4:59:20 PM
From: t2	Respond to of 24042

Larry, I agree the internets supported the high PEs in other stocks with real earnings. When the nets collapsed, it looked inevitable that one of two things had to happen.. either an internet bounce back or a decline in the high PE stocks. I guess we got the big declines in the high fliers. Did you notice that there are lots of experts that are no longer saying we are at a bottom in the Nasdaq....many are saying 2000. Maybe that is what we need, lots of pessimism. IMHO, we are at a bottom at 2500 because there are not many brokerages calling it right now. Volume was pretty good today; another good sign. Certain sectors seem to be rebounding. PC stocks hit while some communication stocks like NT, ADCT made a move up. Cisco not moving up is a bit of a problem but remember it had held up pretty well recently. I think it just dropped down to levels it should be given the recent Nasdaq declines. I think the semis showed that they have bottomed. So many downgrades while only a few companies in certain sub-sectors in the semi space had problems. The catalyst for the decline was one of the best relative performers---Altera was down under $2 (was down 5 to 6 early) while many of the stocks that suffered collateral damage had declined by much larger percentages. Seems like ALTR bottomed and the others cannot be behind as we have seen so many downgrades, in many cases just accross the board. Leaves room for companies to surprise. Actually, I thought this was a great day! I think we are setting up for one of the best opportunities in years.