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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (17325)	6/7/2001 9:40:10 PM
From: westpacific	Read Replies (1) \| Respond to of 30051

I guess this is 1999 again, no one cares about PEs, valuation etc. Just jump on the momo machine with no risk. Trade them, but hold them overnight is asking for trouble in this environment. Oh but I forget - all bulls have Greenie to save them. West

To: Dale Baker who wrote (17325)	6/7/2001 9:58:39 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

Quite probable, but historically, the summer is a weak period for the techs, it has to do partially with the European vacations, this year, with many companies (except INTC?) not having much visibility even past a single quarter, may actually be worse than the standard "summer blahs", one of the reasons that I still think that we may have another relapse of this rally. Longer term, after what I believe might be a retest of the late March lows, I agree with you, the impact (whether real or not) of the fed's easing coupled with an injection of about $60 B in October from the IRS and the already huge MZM, may have an impact and a solid rally (I am on record with a target of between 3800 to 4200 by next April which could be a 100% move from what I expect to be a low between 1850 and 1650 in August), and these prices will once more get us to "irrational exuberance". If these then meet with fed tightening (since they are pouring so much money to craft a soft landing), we might have another run with the bears next summer, possibly later, depending on the Fed's stance. If the advance is more moderated, then the next bull might have a longer life, I fear, however, that the psychology of investors is such that the over valuations of last year have been forgotten, and thus I expect that explosion later thuis year and into at least the first quarter of next year. Zeev