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Strategies & Market Trends : APMP (formerly APM) -- Ignore unavailable to you. Want to Upgrade?

To: john p. carney who wrote (8476)	11/12/1997 4:19:00 PM
From: Sawtooth	Read Replies (1) \| Respond to of 13456

<<Does anyone see an end to this tech meltdown? I mean buyers have to step in at some point.>> Remember all those posters who said, "I'll back up the truck and load up if APM ever gets below 20!" and "I'll mortgage my house to buy WDC if it ever goes down to 25!" or "I'll sell my wife if COMS ever sinks to 32 again!" and "I'll eat my hat if ASND ever sells for as low as the mid-twenties!" ? I think they must all be out rounding up the trucks, at the bank redoing their mortgages, trying to get the best bid for their wives and feasting on boiled hat. They'll be here any minute! ...Uh, right. ; )

To: john p. carney who wrote (8476)	11/12/1997 4:33:00 PM
From: Rudy	Respond to of 13456

* DAMAGE REPORT * Wowww. Quite a day for securities holders especially in the tech area. Those "sexy" young companies of the tech world started to look quite ugly all of a sudden. There has been signs but public is in denial as always. If this Asia problem turns into a bitter competition and trade wars, inflated company earnings expectations may take a step back. That time the already high P/E's would look even higher. This would bring the stock prices down. If an interest rate hike in December couples with these possibilities (which I believe Greeenspan will prefer to stay away from a rate hike) then average P/E of S&P will further come down. Anyway, I, optimistically, believe that people around the world is getting smarter and learning about the advantages of free trade. So I think events will not unfold as dismal as the Street presumes, rightfully being on the safe side. All things considered, Santa may bring unexpected gifts for us individual investors this Christmas (or maybe a little delayed) due to the fact that we are lot nimbler than the funds and big money. Time will tell. I am excited. Now, today's damage report: DOW - 7401 Broke below 200DMA (7454) and chart support at 7450. Next meaningful support is at 7165. NAZ - 1542 Broke strong support at 1550 once more (first time on Blue Monday). It is scary since there is no chart support in the near low until down at 1400. That would bring us back to January '97 levels. I think patience, cool headedness, and strong money management with capital preservation will pay off handsomely by the time we are out of this cloud. Take care and good luck.