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Technology Stocks : PSFT - 1999: The "Make-It-or-Break-It" Year? -- Ignore unavailable to you. Want to Upgrade?

To: Michael Burry who wrote (235)	3/12/1999 8:51:00 PM
From: AlienTech	Read Replies (2) \| Respond to of 1274

>>then I don't expect market caps to crash 75 - 80% if everyone really truly expects the event to pass in 6 months. I think this fall represents a recognition that there's much more to fix than just waiting for Y2K to pass. And it is this uncertainty/increasing risk/higher required rate of return/whathaveyou that is to blame and to take seriously. << Take the oil services sector, Everyone knew things would pick by the end of 99 at the latest. You could have picked up most stocks like IO, MRL, GLM has doubled in the last week. But on something even more arcane, The shorts knew the sector would pick up, Why would they not cover when the sector is making its quadripple bottom? Instead when GLM's ceo was on cnbc saying he was loading up at 9-10 then shorts came in and took the price down even more to the 7's, the second time he came on tv and said things were improving which was last monday I think. Well the stock bounced to 8 but got pushed back down the next day. I dont think people like to buy low. Everyone is a momentum investor now. >>And it is this uncertainty/increasing risk/higher required rate of return/whathaveyou that is to blame and to take seriously. << Not really. How about ORCL.. They did increase revenues from last year, the stocks at the same price though this year. And they said they were very confident about the next year. Afterall if ORCL has slowing sales, then this wonderful internet aint growing as fast as people think.