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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: sea_biscuit who wrote (4355)	12/21/2000 5:39:30 AM
From: craig crawford	Read Replies (1) \| Respond to of 57684

>> IMHO, a better time to buy (compared to now) is when there is not even a single overvalued tech stock that has "bucked the trend" or "held together" or things like that. Right now, we have quite a few that supposedly still "work" (like BRCD, RBAK, JDSU/SDLI etc.). For a proper bottom to be put, the complete wash-out of all speculative stocks is a minimum requirement. << RBAK 76% off it's highs JDSU 70% off it's highs SDLI 65% off it's highs BRCD 45% off it's highs How is that not a washout? Furthermore, the rest of the market doesn't have to WAIT for these to go lower before it can rally. Other techs can rebound while these stocks work their way lower. I'm not advocating buying any of those companies anyway. I specifically have been saying for the last 3 days to look at companies that have already been sold out a while ago with reasonable PE's. Like nothing with a PE over 50. Now that there was a serious cleansing like yesterday I think you can even buy the high fliers for a trade, but you have to be selective and not stay in them too long.