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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: kumar who wrote (38371)	1/25/2001 2:42:30 AM
From: chaz	Read Replies (2) \| Respond to of 54805

Mike, I'm basically feeling bearish still...what we see now as good Q4 reports from some companies is tempered by the sort of sentiment we read in the SNDK release...OK for now, but switchbacks ahead for maybe two quarters. Also, there seems to be a real diversity of opinion about what the FED will do 1/31...drop rates 1/2, 1/4, or stay where they are. The idea that the FED will do nothing is a very wet blanket. It's pretty hard to gin up some excitement in that environment...easier to sit back a bit and wait for the event to turn. This is a trader's market, imo. To make money now, buy dips and take profits, and valium. That's what I'm doing. Goldman's downgrade hit me like a ton of bricks... and I sold NTAP at 68. A few minutes later, (after giving it long thought...<ggg>) I sold everything else except CREE. Out of SNDK at 46, and it's now 36...dumb luck. Taxes be damned, I'm not going to watch perfectly good profits go down the sewer like I did last year. Chaz OTOH, I am now a bit less frightened by lofty PE's than I was a few weeks ago...accepting them as the price of chips. Some may not feel that way, but high levels of valuation are a part of the equation for those companies with long growth horizons...and that part of the "irrational exhuberance" will be with us for so long as there is tech.