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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (15740)	1/15/2003 6:21:37 PM
From: stockman_scott	Read Replies (1) \| Respond to of 57684

The Naz has run up over 35% since its October low... We will need some consolidation...I like stocks like ADBE, BRCD and VRTS for the long term -- timing is important. Not everyone is bullish at the moment...fyi... High Valuations and Weak Economy A Bad Mix The Comstock Funds January 14, 2003 Intel’s report after the close continues to confirm the ongoing weakness in technology. The company reported fourth quarter earnings of 16 cents a share, exceeding low expectations, and revenues rose by a slim 2.5%. Management was cautious about the first quarter, projecting an estimated drop in sequential sales of 3-to-10%. Although revenues typically decline sequentially in the first quarter, the forecast certainly did not look for any meaningful recovery. In a blow to the semi equipment companies, Intel reduced its 2003 capital spending plans to $3.5-to-3.9 billion, down from $4.6 billion in 2002. The company's capex peaked at $7.3 billion in 2000. Intel is by far the largest spender in the semiconductor industry, outspending the second highest company by a 2-to-1 margin. In our view any significant recovery in technology is still not in view... comstockfunds.com