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Technology Stocks : John, Mike & Tom's Wild World of Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (2712)	4/16/2002 10:49:32 PM
From: John Pitera	Read Replies (1) \| Respond to of 2850

Hi Tim, I think a number of market watchers are holding Tom Seibel in a bit less awe, after his Jekyl and Hyde pronouncements of the state of his industry this year. The media has probably contributed to this disconnect between some of his different comments. I'm not certain that software is always the leading sectors out of a tech recession. I think it varies from cycle to cycle. It looks like the technology upgrade cycle is more pronounced in chips, with the shift from aluminum to copper, as well as the new smaller micron size of the transistors. GE should hold 29 for a few weeks and maybe during this Q. I'm thinking that we could see a trading rally of a few weeks and that it's already started. But with 179 out of the S&P 500 companies reporting this week, we'll have an even better idea on that front by week's end. I see that ITWO announced a restructuring in the past day or so. I think the DOW is going to have some real tough love this summer the composition of stocks in the DJIA has created an interesting earnings profile the past 2 years. We've not seen earnings really crater across the board in the DJIA due to the diversified and cyclical nature of some of the components. The short end of the credit market and especially the way that the Dec eurodollar (interest rate) contract rallied during the day after selling off on the open shows how the market is expecting the FED to give the economy more time before they start lifting the Fed Funds rate in a meaningful way. John