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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Return to Sender who wrote (3603)	6/22/2002 10:28:10 PM
From: scott_jiminez	Respond to of 95536

<< What we are doing is simply an exercise in valuation by another metric.>> Yes. And that metric is a seismic undermining in the trust of American business to the same degree Watergate was a devastating hit to the American political process. I suggest you read the op-ed piece by Frank Rich in today's New York Times and see if you continue to pass the current circumstances off simply as a 'valuation by another metric'. Or perhaps this 'valuation by another metric' may last a lot longer than you imply: in the late 1980's we all praising the Japanese and their market...when the Nikkei was at 40,000. The 'valuation by another metric' kicked in and the Nikkei remains at ~25% of it value of twelve yeas ago You say, '...but each day down sets us up closer to a tradable bounce at the very least.' I am quite confident there were countless gurus claiming the same about the Japanese market in late 1990...when the Nikkei was at 30,000. Extreme caution is the key at this juncture. Confidence in the trustworthiness of the American economic system is very low and it will take a VERY long time to recover. This is precisely why all of these citation of cycles and 'tradable lows' etc. are a lot of bull if the premise of the call is the reliability of data from the American accounting system. Right now that system is in doubt and as long as that remains the case, you can present to me 5,000,000,000 'award winning' gurus (like this Harry character) and they will ALL be DEAD WRONG....until domestic and international investors regain confidence that American companies, and ESPECIALLY American company executives, can EVER choose ethics over compensation as their modus operandi Do not be surprised if it takes a decade+ for the NAZ to reach new highs. And during the interim, 50%++ of the currently listed companies are likely to cease to exist. Have a nice day. Scott.