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To: ild who wrote (194614)	10/2/2002 7:55:46 AM
From: Earlie	Respond to of 436258

Ild: Yes, the techs stocks have taken a (well deserved) beating, but the PEs are still mad and most will experience continuing sales/revenue erosion. Many of them cart huge debts and trying to raise equity in this market is becoming a distasteful task. One has to be discriminating now, but you have to love short/put positions where the debt loads are firmly guiding selected companies toward the bankruptcy courts. Then factor in the continuing massive excess capacity, the Ebay pages jammed with "NIB" gear for sale at $0.05 on the dollar, the fact that their end markets are fully saturated and that many of their previous customers have themselves gone "TU", and you end up with a continuing bear's delight. Many of the tech stocks are lower risk shorts now (at say $10.00) than they were a year ago at say $100.00. "Percentage gain over time" is the name of the short's game. Best, Earlie