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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (67673)	4/15/2005 12:57:13 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 77400

oh its my bear market posturing that bugs you. Well, as I said in that earlier post, during the 70s probably the only part that really counted as a bear was the oil shock period which ended before 75. HOWEVER, for the rest of the decade up until 82 stocks went nowhere. Most I know consider the entire 70s as a bear, although in practical terms it was not a bear, - maybe it was a "pause" market!!! LOL. Still if stocks don't go up consistently and sort of chop around, like they did in the late 70s, you can hardly call it a bull. This market, what we have here and what we have had for 4 years sure doesn't seem like a bull to me. I think its just like the 70s so however you characterize that period, thats what this is.

To: Elroy who wrote (67673)	4/15/2005 2:38:18 PM
From: pfalk	Read Replies (1) \| Respond to of 77400

There is a secular bear market ongoing, especially in High Tech. Secular Bear means that you will have booms and busts like normal, but the highs (and lows) are trending lower, after being adjusted for inflation. This stands to reason, since we have historically high P/E ratios. This secular bear will persist until P/E's are brought down to norm. See John Mauldin's excellent article: 2000wave.com "And not to put too fine a point on it, I still think we are in a long term secular bear market. In a few years, we will look back and realize this was a bear trap - another sucker rally. " John Mauldin, Jan '05 P