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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dutch who wrote (31470)	2/21/2001 9:18:56 AM
From: Percival 917	Read Replies (1) \| Respond to of 65232

Morning Dutch, The past year has been a sobering one for most of us to say the least. Even after all the carnage we still have stocks that have sky high PE's: NTAP 123 EXTR 146 QCOM 547 BRCD 161 EMC 62 CSCO 64 GLW 64 As long as these PE's remain lofty and the threat of earnings slowdown remain with guidance being lowered, we are not headed anywhere but lower. The next two quarters are critical IMO for the market "psychology". Buying the dips here has just caused one's portfolio to decrease. We will have rallies but they will be short lived as most will be selling into those rallies. Untill we get solid bases built we are not going higher anytime soon. I for one don't have the time to watch the markets all day to trade in and out, so I will sit on the sidelines for as long as it takes. When I see DEFINITE proof that we have based, then and only then, will I start to take any positions. Again though WTHDIK, Joel