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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Jacob Snyder who wrote (64999)	7/23/2002 4:19:56 PM
From: michael97123	Read Replies (1) \| Respond to of 70976

AMEN BROTHER Cary and i exchanged some private posts and i mentioned it was my grandsons first birthday party this weekend. Cary said speaking of his own portfolio of stocks, "I expect that by his 5th birthday i will up 3x-5x on my portfolio. AMEN to that too for all of us. Tomorrow is the turnaround. I regret not having the guts to buy at the close just in case it was a straight up day. I probably wont have guts in the morning if we get creamed one last time. There were rumors of an emergence fed meeting tonight regarding JP MOrgan situation. Paul Krugman, the liberal economist, in todays NYTimes called for a rate cut today by the fed in order to fight deflation. No sense keeping you ammunition dry while their is panic in the streets. He argued that this lesson occurred in japan. Thoughts anyone or are you all too numb and sick to reply. mike

To: Jacob Snyder who wrote (64999)	7/23/2002 8:13:07 PM
From: Cary Salsberg	Read Replies (1) \| Respond to of 70976

Hi Jacob, I am not having any fun either! I can't point to any significant mistakes on my part, but my strategy "buy low, sell high, but you can't buy at the bottom or sell at the top", puts me in this "Twilight Zone" between buying low and the bottom and subjects me to the unkindest cuts of the panic. I think of ASYT in '98. I accumulated at an average cost of ~$11 and then it dove below $6. I did sell the 52.5% in my tax deferred account at $100 in '00. The other 47.5% is still sitting in my taxable account at ~$24 (all numbers pre-spit). My gut is peculiar. Not only doesn't it say sell, now, but it only wants me to sell way out of the money 6 month covered calls if we get any significant bounce. It doesn't want to part with any of the shares. Talk about falling in love with your companies. I still believe that we are in the early stage of a tech revolution based on silicon and networking. While traditional companies and economies continue to destroy the earth, the silicon and networking companies will be building an alternate virtual reality which will reduce the strain on the planet that has grown with the industrial age. I believe that I have picked companies that not only will survive, but will thrive in the technology revolution. These are not the only ones, but these have a far better risk/reward ratio than almost all others. I recently read a blurb about TXN switching from its usual vendors, Canon and Nikon, to ASML for its newest lines because they want to be like TSMC and get twice the processing speed. I will be rooting for them to make a lot of money and wind up with a lot of ASML equipment while ASML winds up with a lot of TXN's cash.