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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: Gary who wrote (5722)	4/19/1999 5:37:00 PM
From: mauser96	Respond to of 17183

Beating estimates won't help unless the upside surprise is a huge one. The market goes through these manias periodically, and it just takes time for reality to assert itself. The present collapse isn't company specific, it involves almost all the techs. For some reason, suddenly all the institutions are convinced that the world wide economy is going to boom, so they are selling techs to fund purchases of economically sensitive stocks. IMHO, the evidence for this turn in the world economy is very weak. Apparently they are taking the idea from rising oil prices, which I think will last only until the first OPEC member begins serious cheating. These are the same institutions that were heavy sellers of the techs last fall, just when they should have been buying. The techs may be overpriced but it won't take much of a run up for the cyclical companies to be overpriced also.