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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: freeus who wrote (7410)	10/23/1997 5:49:00 PM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 22053

I don't know why, but I wasn't really surprised to see the sell-off today. Maybe it's because of the somewhat "irrational exuberance" Tues in MSFT and IBM. They beat their estimates by miniscule amounts, and then it's like every dollar on the street chased them. "Flight to quality"? I wasn't surprised by how IBM and MSFT earnings came out, but I didn't figure it would trigger a bull run on the stocks. Maybe OTOH, the street was expecting the worst, and were surprised. I don't know if this is "the crash of 97". I don't see any reason for it. I mean, besides the fact that stock prices are not exactly cheap. But there's lots of money out there, so that's what drives the prices higher, IMO. I could send Schwab a check, plus I have a little left in my account, but if we're crashing, I want to have something left to buy at the bottom with (or at least at very steeply discounted prices). I'm just going to hang in there. They'll come back, maybe even tomorrow. WS is irrational.