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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (19434)	3/14/2001 12:18:03 PM
From: larry	Read Replies (2) \| Respond to of 24042

TA, As expected, we did see s ferocious rally at the opening bell. The gap is filled and now it's time to go down again. This afternoon is very important and hopefully DOW can close above 10k. Long term, 8k is a no brainer. NAZ won't bottom out until 1500 or lower. 1800-1860 is the first support for the next leg down. A rally toward 2k is ensured and then a grinding death should follow. Is there any great reason to buy tech now? Again I will use CSCO as an example. Do value investors want to buy the inflated pig at forward PE of 55-65 (I think CSCO is gonna make 30 cents at most if all inflated earnings are stripped away)? Momentum is negative that will scare away momo players. The hype is gone, and why should value investors (Buffet) buy sth with negative growth in the near future that has PE above 25-30? And the worst to DOW has yet to come. Sure the market is cheap, but it's only cheap as compared with its high, not historical valuations. That's all for now. larry