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Pastimes : Home on the range where the buffalo roam -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (8329)	1/2/2001 5:02:21 PM
From: Sig	Read Replies (1) \| Respond to of 13572

The golden tech goose just skidded off an icy runway and hit the barricade. Laying there with "x" for eyeballs, nothing left but to bury the critter. I think Greg has been right, we all would have been better off today to have seen the market go down all the way at once. This government interference just gave the big guys an opportunity to get out early while draining the little folks (including lots of institutions)and they seem to be still working on it. Anybody still looking for a bottom (as I am) still has too bullish an attitude. To inject a more positive note, I think we may reach a bottom when tech P/E's reach <1/2 what they are today. Like Csco or Emc at 20 rather than 100. The tech revolution( momentum) has for the most part,come and gone except for the buildout of fibre channels and wireless. IBM is now producing massive storage devices to handle the shortages and create pressure on pricing. I think a bull tech investor has to be hugely selective this year, so selective its probably better to try elsewhere- maybe oils, uts. Traders have fun, shorts have fun, bulls get slaughtered JMHO Sig