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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: Berk who wrote (4416)	5/20/2002 3:45:12 PM
From: GraceZ	Read Replies (2) \| Respond to of 24758

The point is that we are probably close in time but maybe not in price to a bottom. This is precisely the time where you have to get your psychology ready to go long. People should feverishly be lining up their targets, diving into the information looking for beaten up stuff with improving fundamentals. This is no time to let yourself be hypnotized by the indices or by price. Where is the value going up? That is the only question we should be asking ourselves. Polaroid was a great company for a lot of reasons, but the premium people paid for it gave it a negative return. The same could have been said for the big tech generals. People are forever buying the past and over paying for those things that have done well in the past. People are risk averse (like analysts) and for a long time they got away with paying up for these darlings because the premium you paid for companies that had high growth in their past kept going up even while the prospects for that rapid growth diminished. Meanwhile a whole new slate of rapid growth tech companies labor on under the cloud formed by the generals, they have to succeed with their business plan to survive because the easy capital has been cut off. I can't think of better conditions in which to go shopping. Either you can spend your time looking for good bargains or pop a bowl of popcorn and watch the blow off top in gold miners. (maybe a little of both)