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

To: LLCF who wrote (4031)	12/20/1997 3:45:00 PM
From: Proud_Infidel	Read Replies (2) \| Respond to of 10921

Re:When was the last time you picked up a six pack of AMAT at the store?" DAK, I hear this rationalization alot from people I talk to. Because one can go to the corner store and touch a company's product is reason for excessive valuation of its stock? Tangibility of products lends nothing to the inherent worth of a company. IMHO, these large multinationals are due for a rest and we could see a period of several years of sideward movement with really no appreciation in our largest stocks. If we do not, I am fearful that at some point in the next couple of years, these large stocks could lead to a collapse of our entire market. One cannot build a skyscraper with only a narrow structure; the higher one goes the farther out one must build at the bottom. The same is true here. The "Nifty-Fifty" are responsible for an inordinate amount of the appreciation seen in this Bull market, yet the press and CNBC will have you believe that every stock is hitting new highs daily. Regards, Brian