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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Warpfactor who wrote (1470)	3/13/2001 8:23:34 AM
From: ItsAllCyclical	Respond to of 23153

Book value means little or nothing when it comes to most high tech co's. How much of that is good will? If you want an better floor look at Price/Sales ratios. ARBA is still at 6 and JDSU is a 8.5 (still not cheap by historical standards). Even though LU has had it's problems (understatement), it's settled around a price/sales ratio of 1. ARBA and JDSU could go much lower still if their business continues to deteriorate like LU's. That said both look good for a bounce - once we find a bottom. NDX (Nasdaq 100) doesn't really have any support until 1300 now that 1850 has been broken. Will be interesting to see if we get there. Around 1700 now. That fact that futures are slightly positive after yesterday's drubbing, the Nikkie broke thru 12,000 like butter and far too many people calling yesterday the bottom - tells me that it's probably not the bottom. I think we're very close to a tradeable bottom (in terms of time and price), but true capitulation and panic is something to be respected. Watching for now.

To: Warpfactor who wrote (1470)	3/13/2001 8:38:56 AM
From: jim_p	Read Replies (3) \| Respond to of 23153

Warp, There are a number of tech companies selling below book value. Here is a list of tech companies selling below 90% of book: Book/Price CPTH 750% ISLD 550% ALSC 157% VIAN 142% INSP 132% CMRC 130% WCOM 122% JDSU 105% GX 99% AVT 91% In addition, ISLD,VIAN and CPTH are selling below cash value per share. ALSC is selling at 82% of cash value, 157% of book and is profitable. Jim

To: Warpfactor who wrote (1470)	3/13/2001 10:33:21 AM
From: cnyndwllr	Read Replies (1) \| Respond to of 23153

Warpfactor, I look at cash, debt, and p/sales and then look at trailing and projected earnings. I also think that book value can be misleading since the co. puts its own values on its assets, including goodwill at times. On the subject of the semi-equip companies, I wonder if we can ever have a real bottom while those companies are holding up. During the last two very down days, Amat and nvls and some others were actually holding their prices and going up. I read where the thinking was that they had based and would be the first to recover. That doesn't sound like capitulation to me. Is it time to buy more mvk? Ed