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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Crystal ball who wrote (81609)	8/30/2001 11:27:32 AM
From: Doug	Read Replies (2) \| Respond to of 99985

C.B: Many believed that the TECH thanks to all the P.R and tech Gurus were exempt from the effects of a Buisness cycle. It has been conclusively proven that they are no different. The only difference is that the majority of Tech Investors cling to their earlier belief and desperately hope for an earnings recovery to support their over extended valuations. In all other Sectors, when the Buisness troughs, the affected sectors go into a belt tightening mode and resort to mergers to reduce the glut created during the peak of the market. That m&a activity has not occurred in the Tech sector because valuations are too high. It will. But for that to happen, we need to get to more historical valuations. Good luck.!