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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: Don S.Boller who wrote (8449)	10/2/1998 9:36:00 PM
From: STK1	Respond to of 12468

I suspect that what we have seen for more then just a few years has been indeeed the heard mentality,run up then sell down,all wins including shorts,run up then sell down,Has the market truly been driven except in a very few Blue chippers a fundamental prospective. I think not , the market that will surive in the next bull run except for maybe the fewblues will hopefully be only those of value driven fundamentals,but i suspect that that will not be the case. The 30 year bubble will leave a lot of people hanging in the noose of thoughtful valuations.

To: Don S.Boller who wrote (8449)	10/3/1998 7:20:00 PM
From: DavesM	Read Replies (2) \| Respond to of 12468

"OFFTOPIC" Don "A greatest part of this market rise has been mania"- I don't believe that the U.S. market is in the mania phase yet. Japan in the late 80;s was a bubble top and I don't believe that we are near those levels. Also while you stated that the bull market started with the 1974 market bottom, this does not include the effect of the high inflation we suffered through out the 70's and early 80's. Some belive that if inflation is taken into account, the US stock market was in a bear market for the entire decade of the 70's. We know that much of market valuations are based upon future expectations, and through out the 80's and early 90's , the United States was seen as a declining economic power (remember how Japan and the Asian Tigers). How can you have a bubble top when the world views your economy to be in decline? Though dividend yields are at historic lows, much of this is due to the fact that the market prefers corporate repurchases of stock over dividends. IBM spends over twice as much on stock buy backs as it does on dividends. If the market felt otherwise, those numbers could quickly reverse. I'm not saying that we're in a bear market (we are), or that we are near the bottom, which is gut wrenching on a high Beta stock like WCII. What I am saying, is that I don't think we're in a bubble top or in a mania phase. davesm