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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: hpeace who wrote (9230)	11/20/1997 2:20:00 PM
From: Robert Voigt	Read Replies (2) \| Respond to of 97611

Speaking of facts, I heard on CNBC last night that the "market" is back where it was before the mini-crash in October. That may well be, but the tech stocks sure haven't recovered. Any idea if and when they will? I have a theory (not original even) that this event was just an excuse to take profits from some stocks that had appreciated way too fast (relative to earnings and the rest of the market) during this year. In fact, they had already started declining before this. I don't think anyone KNOWS the effects of the Asian turmoil, but it sure is a convenient scapegoat for the ills of the market. My own feeling is that we won't see any dramatic change in the market until some of the companies that people are worried about start to post earnings and state the effects of the Asian problems on their balance sheet. Then we will be back to worrying about things like "what Greenspan is going to say", what the economic indicators are showing, etc. Right now those seem to be overshadowed by what is happening in the far east and the potential ramifications on the US and our companies. Bottom line -- We don't know the effects of the Asian turmoil and are taking our profits now.