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To: GST who wrote (128224)	7/12/2001 5:26:42 PM
From: Sarmad Y. Hermiz	Read Replies (1) \| Respond to of 164684

>> There was nobody out there making a rational case for buying stocks -- nothing on that whatsoever. Just hype. Good luck. << GST, the most rational case is the absurd irrational markdown that has hit some very solid companies. Take a stock like ADCT. An established telephone equipment company. It was under 6 yesterday. It is back to its price level of 1995. In the meantime, its revenues and financials are quadruple that level. And this company has little debt, and lots of cash and tangible book value. In fact it is far more rational to buy this stock (and hundreds others like it) than to sell. Needless to say, I have lots of shares.

To: GST who wrote (128224)	7/12/2001 5:33:02 PM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Gst,nothing whatsoever? >``We think it's important for Silicon Valley. We were enthused ... about his real commitment to get this done,'' said James Morgan, chairman and chief executive officer of Applied Materials, who attended the hourlong private meeting with about 100 other high-tech executives. www0.mercurycenter.com

To: GST who wrote (128224)	7/13/2001 12:46:01 AM
From: schrodingers_cat	Read Replies (1) \| Respond to of 164684

Hi GST : I think what we are seeing is that people get depressed hearing all the warnings, so when the earnings come out and the companies make their numbers it sounds like good news. Those with longer memories may recall that back in Jan we were supposed to see a rebound in Q2, and then in Apr we were assured that Q2 was to be the bottom. These people are reading past the headlines and are finding things like " revenues will be down about 10% next quarter" and " our revenue guidance is being changed (lowered) to reflect current market conditions for our products". The shocking truth is that many tech businesses have not found a bottom, and none see an upturn in Q3. I think we will see a nice earnings rally in tech, and then a long grinding sell-off as the summer doldrums are followed by tax loss selling and seasonal weakness.