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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (3810)	12/14/1997 3:49:00 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 10921

I2: I plan to add to positions and am now considering adding new ones by the end of this year in this current leg down. I refuse to get involved in a guessing game as to where the bottom is located. I will just continue to average in at points where valuations seem compelling and take what Mr. Market gives me. I do not kick myself if Mr. Market goes lower as he has since my last entry points in this last leg down. He does what he wants and I take what he gives me and I plan to take as much as he wants to give me. There is something to be said for the greater fool theory when prices are declining. At some point (your guess is as good as mine), people say to themsleves that they plan to add to a position at any given level if the market goes there but they will stand firm and not buy unless Mr. Market comes to them. Yes, they want to force the market to come to them. Somehow, this price level is moved lower and lower in the face of such declines before they are willing to invest at all. In essence, at some point in this process, one is then waiting for the greater fool to come along and sell his semi equipment stock to them at a predetermined price. You can be too greedy at the top as well as near the bottom. Nobody can make Mr. Market do a thing and at some point all the weak hands will be gone. In retrospect, it seems so easy to say one is a long term investor at the top. Now it is gut check time. With that said, if prices move 15% lower than my next entry points to be established in the coming two weeks as is certainly possible and as you hope <g>, I will be a buyer again provided fundamentals are sound. As prices decline, the risks are less provided the fundamentals are intact. SEA has not destroyed the fundamental prospects; SEA has destroyed the sentiment in this sector. I just post this FWIW. It is just a viewpoint to consider and nothing more. Everyone has to find a buying method that fits their asset allocation plans and comfort level. The important point is to be invested in this sector because of its undervalued level when compared to the overall market and its great growth propects going forward.