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To: Glenn D. Rudolph who wrote (118810)	2/28/2001 12:19:15 AM
From: schrodingers_cat	Read Replies (1) \| Respond to of 164684

Glenn, thanks for those energy picks you sent me a few days ago. Very helpful. I agree that the nasdaq market looks dreadful, and am expecting a further big fall. Of course, I usually become bearish around bottoms. Now that earnings are shrinking rather than growing tech still looks very pricy. The question of what the long term growth rate is for these companies is hard to answer. Probably some good values out there if you pick the right stocks and if you are willing to wait a while. Remember though that people buy stocks for one reason only: the hope that the stock will rise. Stocks that lose people money have a hard time finding buyers. Tech will recover but it won't be the same as it was before. I expect Greenspan is also worried and I think he will try to lift the market when he speaks tomorrow. I do not think he will cut interest rates until Mar 20 and I don't think it would help if he did. When he cut rates in Jan that was a big surprise and signaled a massive reversal of Fed policy, whereas now everybody is expecting cuts anyway and its really just a question of when. Edit: I guess the bright spot is that the Dow is holding up well and as rate cuts have their effect so things will look better for those stocks.

To: Glenn D. Rudolph who wrote (118810)	2/28/2001 4:11:52 AM
From: GST	Read Replies (4) \| Respond to of 164684

Glenn: I don't see why it should be too risky to begin to build positions if you are in cash. But I suspect you stayed invested in the downdraft. Lower prices reduce the risk of making a purchase at a price that cannot be justified. If you are unhappy with a stock and sell it, you can use the loss to offset a later gain -- not a bad deal and perhaps applicable to a swap of arba for itwo if you are so inclined. The point of my earlier post was to question the value of the "valley" metaphor. It looks to me like we fell off a mountain and we were pushed by over-valuation and in some cases also poor fundamentals -- it is not logical to call that a valley imo. I like the drillers.