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To: X Y Zebra who wrote (52209)	5/7/2002 10:51:29 PM
From: X Y Zebra	Read Replies (1) \| Respond to of 208838

forexnews.com Tokyo's Nikkei up two percent on yen fall, Cisco Tuesday May 7, 8:36 PM EDT (Updates after Nikkei two percent jump) TOKYO, May 8 (Reuters) - Tokyo's Nikkei average jumped more than two percent, rising above the 11,500 mark, in early trade on Wednesday, with a lower yen and well-received earnings from Cisco Systems Inc (CSCO) prompting buy-backs in tech and auto shares. Electronics maker Alps Electric Co Ltd (6770) was up 5.3 percent to 1,709 yen by 0026 GMT, helping the benchmark Nikkei average (N225) soar 2.12 percent or 239.76 points to 11,555.80, recovering all of the previous day's 2.03 percent drop. The capital-weighted TOPIX index (TOPX) rose 11.58 points or 1.08 percent to 1,085.70. Better-than-expected results after the bell by Cisco, the world's top maker of equipment that powers the Internet, sent the Nasdaq 100 after-hours indicator up more than two percent, prompting buy-backs in the tech sector, traders said. The yen's fall after rising to a two-month high against the dollar a day earlier also helped. The dollar was quoted around 128.06 yen in early trade. ©2002 Reuters Limited.

To: X Y Zebra who wrote (52209)	5/8/2002 7:08:38 AM
From: ChrisJP	Respond to of 208838

lol XYZebra, I guess I'd say when CNBC started parading people on day after day explaining that valuations don't matter. The markets weren't insanely overvalued until 1999 or so. So the lies weren't really needed until Wall St. had to con people into buying stocks that were already 2 or 3 times too high. In defense of CNBC, I do recall them having someone on back in 1999 that told the audience that anyone buying Yahoo at $120 was paying in advance for 5 or 10 years of 100% - 200%growth per year -- a feat which has never been accomplished by any business, lol. Stocks are decently valued (given the low interest rates) at the moment. The tech stocks that will survive are decently valued at the moment too, but I'm expecting no growth in tech business for AT LEAST ONE MORE YEAR. But things will pick up in mid-to-late 2003. In the old days -- the stock market used to look forward by 9 to 12 months. So that means that 3 to 6 months from now, the stock market should be in an uptrend. That's why I've been posting since NASDAQ 1700 that its probably ok to start dollar-cost-averaging into broad based stock funds a little now. Chris