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Technology Stocks : Hewlett-Packard (HPQ) -- Ignore unavailable to you. Want to Upgrade?

To: Elwood P. Dowd who wrote (1462)	7/22/2002 5:47:11 PM
From: Captain Jack	Read Replies (1) \| Respond to of 4345

El,, I'm NOT buying GE,, very few and select. ... just going 25% in on a few of those I'll want. GE is on the 'want' list but at this point I'll wait. I do not think we will hit the 10% mark but would feel OK with it. Beyond that & I'll just not look for awhile-- maybe,,LOL. For weeks people have been talking about 7400 (months ago I said 25% or 7500) and since so many are looking for that # I suspect we will get it as those BIG guys will not buy much until. Just saw this; Jul 22, 2002 (The Age - ABIX via COMTEX) -- Warren Buffett says that when stock prices fall and you can get more for your money, people do not like them any more. That was a comment made by the legendary US investor in December 2001 in an update of his 1999 warning that US sharemarkets were, at the time, pricing in unrealistic share price growth. The long bull run ended in March 2000, when US stocks represented 190% of US gross national product (GNP). In comparison, in 1929 the market peaked at 109% of GNP. Today, he says, the market is about the same value as US GNP in the mid-1990s. In other words, market fundamentals now are much sounder than they were in early 2000. Buffett also says investors repeatedly make the same mistakes because they tend to take their cues from what has just happened, suggesting that a market bottom is close.