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To: Petz who wrote (77671)	4/18/2002 3:39:00 PM
From: tejek	Respond to of 275872

ted, re:"stock overhang left in tech" Take a look at this 9-year chart. quote.yahoo.com. From it, it doesn't appear that the overall Nasdaq (green) is overvalued anymore. Petz, it doesn't.......however, there are funds like Janus that are still dumping. AOL just dropped to a 52 week low of $19, at which price I picked some up....love a fire sale. ;~)) Janus was blamed for that one. So long as those funds who pigged out on tech in the 90's continue to get redemptions and have to unload, tech stocks will be in the dumper. The RED line is the Nasdaq 100. You can sure see it's "bubble." Its clear that the Naz has lost a lot of its sky high valuation and is closer to the DOW in terms of valuations......although I should point out, there are some who contend the DOW stocks are overvalued at their current levels. However, its not enough to bring the prices down because demand for tech products is also down and that translates into no earnings growth. And until earnings start to grow, there will be no demand for tech stock. That's why everyone talks about end user demand and IT spending in the same breath. Until they are back, there will be too much tech stock on the market, keeping prices down. ted