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To: Candle stick who wrote (8346)	2/10/1998 4:52:00 PM
From: Gregg Powers	Read Replies (4) \| Respond to of 152472

Candle stick...Good God...you're investing real money and my post is too long to read? Fundamentals don't matter because you can read the stock chart? Technology stock prices go to extremes exactly because uniformed, momentum traders either panic at bottoms or overpay at tops. I completely disagree with your premise. Stock prices in the short-term are entirely unpredictable; exogenous events, good and bad, drive investor psychology--particularly in the tech sector. Over a reasonable investment horizon, say two to three years, fundamentals drive value. Call me silly, but I'm running $2.2bb and have compounded clients capital at a 23% rate over the last ten years--so just maybe, just possibly, you might consider being less short-term arrogant and more long-term wise.

To: Candle stick who wrote (8346)	2/10/1998 5:19:00 PM
From: Matt Webster	Read Replies (2) \| Respond to of 152472

Candlestick, don't you think that ASND is just as good an analogue? Stop talking about CYMI all the time; people here think that CYMI was something special. It wasn't that special. The same darn thing happened to ASND, BAY, WDC, QNTM, etc. Tech stocks, when they disappoint, take on a negative momentum. The PE contracts due to lower growth and poor visibility. The E is smaller so the price contracts for that. Tech stocks usually start out hyped, so they get downgraded in waves (first on the announcement, and then the laggards pile on). Then short sellers come for a momentum play. The stock must base at a price low enough to attract value investors, and show a turnaround, and then it goes up. It is not just CYMI. All you people who think Candle is pinning too much on CYMI need to think about this general phenomenon, and how a market structure based on earnings forecast, whisper numbers, a premium on growth and analysts with market power and short selling MUST lead to this phenomenon. Good luck if you're long, you're gonna wait a long time, and meanwhile opportunity costs mount. At the very least, sell your shares and buy calls to free up cash and limit losses. Matt