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Technology Stocks : 3Com Corporation (COMS) -- Ignore unavailable to you. Want to Upgrade?

To: joe who wrote (15429)	5/5/1998 2:39:00 PM
From: Mang Cheng	Read Replies (2) \| Respond to of 45548

Joe, thanks for the interest rate/fed discussion. Those are very important topics and easily got missed. Please keep us informed when you see something important in the Fed corner. I think the Fed will have difficulty raising rate since it will drive down the Yan even more and causing another round of crashes all over the world. HK is already crashing in anticipation of this rate hike. The following is an interesting article about the general market : "But analyst warns investors be careful with values in a speculative bull market" May 5, 1998: 10:10 a.m. ET NEW YORK (CNNfn) - The remarkable rally on Wall Street, with stock prices climbing far beyond the traditional benchmark of earnings multiples, is leaving some analysts at a loss for a solid explanation, but at least one market watcher says that the days of the price-earning valuation might not be over yet. Vince Farrell, chief investment officer at Spears, Benzak, Salomon and Farrell, shared his concerns about the market's apparently unstoppable bull run in the light of ongoing bad news in Southeast Asia and elsewhere. Here is a partial transcript of his "Business Day" comments. You know, there was a report by Morgan Stanley on the Nasdaq quoting somebody that if you take out Intel (INTC), Cisco (CSCO), and Microsoft (MSFT), they account for 59 percent of the earnings in the Nasdaq composite. All the other stocks are trading at an average of 90 times earnings. Now, that shows you the level to which speculation has risen in this market, so you had better be careful. (Mang's note : P/E 90 ?? for coms) cnnfn.com Mang