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To: John Madarasz who wrote (9345)	1/26/2001 1:52:01 PM
From: Boplicity	Read Replies (1) \| Respond to of 13572

you can look at that chart and just follow it with you eyes from the left to the top and you head ends up on your right shoulder, you can just see how top heavy it is, and how much over head resistance there is left in NTAP, that's why I'm saying it needs to base. I asl the following question in one form or the other when I see someone talking about gaps. Please tell me on real investor terms, like what is going through investors minds that cause gaps to be filled? WHY? Greg

To: John Madarasz who wrote (9345)	1/26/2001 6:35:25 PM
From: mishedlo	Read Replies (1) \| Respond to of 13572

Yes there is still alot more to come, but the economy, and specifically the corporate and private debt situation, is in a much different place now. Growth should be much slower than before going forward here, and the money just won't be available for building out because of the credit expansion. Many people just do not want to accecpt this possibility. John. You summed up the bear case in one neat little paragraph, without resorting to extremism. The EASY growth has been captured, and now more and more companies as well as consumers are trying to make do with what they already have, given the bad economic times. Storage will always be needed, but with dot.coms going under left and right and with transaction volumes from banks, brokerage houses, credit card companies slowing as there are more layoffs, even storage rate of growth will slow. I for one, think EMC is absurdly priced in this scenario but I guess we will see. Over the long haul NTAP over EMC any time. As for non-storage, any declines or slowdowns will kill companies, and PMCS is the best example. Unlike Greg, I feel that the bulk of the stock market is vastly overpriced, given these economic conditions. SSTI is a good example, a forward PE of 14 or so (guessing) and the market is still not tolerable of whatever slowdown there is in flash, even at that bargain basement PE. I keep asking how JNPR, EMLX, AMCC, EMC, can support these lofty evaluations in slowing growth periods. I do not believe they can. JNPR at 40 or less would not surprise me one bit. I did call PMCS at 30 (from 200, but stupidly did not profit from it, instead stupidly playing RMBS long). I now am convinced PMCS will hit 30 easily. The bull case is summed up in 4 words: tax cut rate cut I guess that is 3 words if I do not have to count cut twice. With the easy growth taken out of the picture and unlikely to return any time soon IMHO, we can look forward to decreasing revenues in many cases, and decreasing rates of increases almost everywhere. Add in the fact that consumer debt is at an all time high, massive layoffs are beginning, then think about the loan defaults and bankruptcies that will be beginning soon. I believe some time after the next rate cut, both the DOW and NAZ will selloff huge. M