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To: Boplicity who wrote (10073)	2/12/2001 12:59:16 PM
From: mishedlo	Read Replies (2) \| Respond to of 13572

Greg here is another way of looking at it. If they have not warned yet, you better believe they will. If you in any stock that has not yet warned, get while the getting is good... SEBL is good example I think. OTOH, on any bounce is good time to buy PUTs on what has not yet warned. But, you need better luck than I had closing EMLX on FRI (afraid of a bounce this week on it) sigh. M

To: Boplicity who wrote (10073)	2/12/2001 1:54:41 PM
From: techguerrilla	Read Replies (2) \| Respond to of 13572

Was I ever wrong, Greg . . . . when I thought this market was going to start tolerating high PE's. Quite the contrary may be the case. Any whiff of bad news and an entire sector gets shot. Look at EMLX today and how it affected two excellent companies: NTAP and BRCD. I'm beginning to think that the only sensible thing to do these days is to scope out stocks with high PE's, buy three-month out puts slightly in the money, and patiently wait for those companies' sectors to get whacked. The warning for this all goes back to Qualcomm last year. PE's like 139 (NTAP), 297 (JNPR), and 266 (BRCD) are simply too vulnerable now. Your thoughts about being "all over" JNPR if it gets below 80 might even be questionable now. I'm sure no expert, though. Check out RIMM. It's PE is 1110. Is there really any way that stock can be traded at that kind of PE for much longer in this market? /john