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Technology Stocks : DELL Bear Thread -- Ignore unavailable to you. Want to Upgrade?

To: Irish King who wrote (29)	3/10/1998 12:08:00 PM
From: jjs_ynot	Read Replies (1) \| Respond to of 2578

Well if that's all the bounce there is; that cat is dead and buried.

To: Irish King who wrote (29)	3/11/1998 12:32:00 AM
From: jjs_ynot	Read Replies (1) \| Respond to of 2578

From fiendbear.com "The market has certainly avoided any serious damage despite several key technology companies announcing that their earnings are fundamentally slowing down. I also agree that monetary liquidity is the likely culprit that has investors buying stocks regardless of the valuations background. However, I do disagree with the idea that the Bears are sweating. First of all, what Bears? The latest sentiment data shows a healthy amount of bullishness. In fact bullishness is at its highest levels since the late summer when Dow 10,000 talk was all the rage before the October mini-meltdown. I would say that the Bears (the few remaining ones) are just waiting it out at this point. How far does anyone really think the market is going to get with a S&P 500 P/E ratio near 27 in an environment of declining earnings growth (or in the case of many tech stocks, earnings in general)? Perhaps there is going to be another blow-off similar to last year which blasted the Dow from the 7000s into the 8000s. This is certainly possible, but the Bears have seen it before and won't be anymore surprised than they were last year. In contrast, I believe that it is the Bulls (at least the ones who can trace market history further back than just the past few years) that are sweating because they know that they are in very dangerous territory. I would liken the situation to Russian Roulette. The Bulls keep pulling the trigger and nothing happens so it is leading many to believe that the gun is not loaded or is continuously misfiring. The Bears on the other hand can see the bullet in the chamber and wince each time the trigger is pulled."