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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (45688)	4/20/2001 9:00:19 PM
From: Cary Salsberg	Read Replies (1) \| Respond to of 70976

Mike, The market at 5000 was a bubble valuation. How many points from 5000 to 1600 were bubble deflation points? If all the points were, then any reflation without fundamental impovements would be a new bubble. If the bubble valuation needs to be deflated to 1200-1500 before all the "gas" has been drawn off, then we are still in the bubble. XLNX growing at -20% from bubble induced revenue levels and sporting a 85 PE might indicate that the bubble is alive and kicking.