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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (88514)	1/15/2001 9:35:56 AM
From: BSGrinder	Respond to of 132070

Mishedlo, We are not in the later stages of a bear market when "people are chasing anything that moves up." Yahoo and Amazon are not anywhere near zero, being currently valued at 13 and 6 billion dollars respectively. Cutting the high-flyers in half does not begin bring them down to reasonable valuations - at least 90% drops will be required to do that. Finally, the Dow has not even begun to fall seriously, which will be absolutely required before a true bear market is even acknowledged. I think the best commentary I've heard about where we are is: "We're not at the bottom until you stop asking whether we are at the bottom." May your puts prosper, as I am playing the same game in a rather different fashion. /BSG