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To: kash johal who wrote (29824)	2/28/2001 4:06:36 AM
From: Petz	Read Replies (1) \| Respond to of 275872

kash, re:"The Nasdaq-100 is now trading for 164 times earnings" That was very entertaining and, sadly, true, writing. 95 out of 100 Naz 100 stocks dropped today, 4 rose (and they weren't tech!) and 1 was unchanged. Unfortunately I bailed out of my QQQ puts too early today but reinvested in Intel puts when I saw the IDF-inspired rise. I also bailed out of TMTA puts when it was down 2 instead of waiting. Also wrote out of money calls on my AMD for March. Bought an oil exploration stock. When I used to get Forbes they always had a table comparing relative performance of various baskets of stocks. One of them was Low-PE vs. High-PE. Its obvious that high-PE in an economically sensitive industry is poison. Petz

To: kash johal who wrote (29824)	2/28/2001 8:41:59 AM
From: Bill Jackson	Respond to of 275872

Kash, An interesting read, esp about making 200 M Americans happy. In truth there is still a lot of the bricks and mortar economy that makes money and has true earnings. this includes a lot of web and electronic companies. I think we will have some kind of slow pace for a whiel and the summmer build for the fall consumer season will lead to a recovery. Inventory controls throughout the production and sales systems have caused the feedback loops to be far shortter than they were in the past when companies would produce for 6 months or more and all that would be in the distribution system and they did not know and then they shur down for 6 months to let the slack out. Now we close the doors, layoff people for shorter periods and then hire them back. Unemplyment insurance and severance agreements kepp $$ in the economy over these shorters periods. So I am on the side of a summer/fall recovery. Bill