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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (45369)	9/19/2001 12:10:29 PM
From: High-Tech East	Read Replies (1) \| Respond to of 64865

... just in case the roof totally falls in in the next month or so, I just placed good-til-cancelled buy orders ... for SUNW @ 5.00, EMC @ 9.00 and SCMR @ 3.00 ... we'll probably never get there, but who knows, really ... ... sold the balance of my Sept S& P puts today as they expire tomorrow ... still have Mar S&P puts, silver futures and a bunch of ABMD which is well under water ... Ken Wilson

To: JDN who wrote (45369)	9/19/2001 12:26:46 PM
From: QwikSand	Read Replies (5) \| Respond to of 64865

I suppose I'm the one who's nuts, but whether SUNW is a "good buy" at this or that level seems to me at this point like an appropriate subject for discussion at the Mad Tea Party in Alice in Wonderland. I have money under "management". I think I am going to fire this "manager" today rather than watch all my capital melt away to nothing. His philosophy is "Buy and hold, because if you back far enough away from the chart, the long term trend has always been up." This guy has been running money for 25 years and has audited track records and so forth. I think he is in over his head. We are entering a situation that no living person in the US has ever been part of. We WERE in an economic down cycle. It WAS appropriate to talk about when a cyclical recovery might begin, even though the fashion was to always talk like it was beginning tomorrow. Now we are in something else. I don't see how we can NOT be entering a depression, probably the worst one in U.S. history. I don't see how our economy can NOT be decelerating to the point where we are going to see huge increases in unemployment, crime, demand for social services, military spending, at exactly the time when the tax base is vanishing. Mass layoffs already behind us, mass layoffs coming up in airlines, aerospace (airplane builders), travel (hotels, restaurants, car rentals), automobiles, financial services, etc. All I hear are the sound of falling dominos. What is there to indicate the direction can be anything but straight down, except for tired old slogans about "things always get better eventually"? Is it that there's still a huge potential market for servers because almost nobody in Afghanistan has a Java-enabled Palm Pilot? Is it that Windows XP is going to re-sculpt the face of the world? The internet's not going away? It's been pounded into our heads how consumer spending is 65% of our economy. Well, the consumers' employers are going broke in droves and laying off the consumers. They aren't going to have anything to spend. The siege mentality and disappearing civil liberties will also put the brakes on people's interest in, and ability to do, discretionary spending. Right now they're going to make you spend three hours to get on an airplane. Make you want to take a quick flight somewhere? What if they make you spend an hour to get into a shopping mall? Consumer confidence? I think we're going to go from measuring consumer confidence to counting consumers...on one hand. Assuming we're talking one partially-used lifetime here and not a 150-year graph, I can't see a reason in the GALAXY to have money in the stock market right now. I sure would like to hear some. I wonder if there are any money managers that are honest enough to say to their clients, "your fees to me are a waste of money right now, all I'll do is take a piece of your wealth as it vanishes, until it's gone." --QS