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Technology Stocks : IDTI - an IC Play on Growth Markets -- Ignore unavailable to you. Want to Upgrade?

To: David Tesorero who wrote (10222)	4/20/1999 9:58:00 AM
From: Samuel R Orr	Read Replies (1) \| Respond to of 11555

David, Nice to hear from you after yesterday's carnage. I had to buy that fellow who wrote the WSJ article about unjustifiably high Internet stock valuations a steak dinner at Tavern On The Green just to have a chance to win a Big Mac from you. Losing two bets in a row would have been an intolerable blow to my ego. As for AOL, I wouldn't worry too much about it. For really die-hard old timers like myself, it would have to fall to about $25 to tempt me. Long before it ever got there, five million traders would have jumped on it to resume empirical testing of the Greater Fool Theory. If neither you nor I can cover the price of a meal at McDonald's, I'll bring along a sign that says, "Will work for food!" It will be interesting to see which way, if any, the market jumps today. The rotation into cyclicals may broaden market breadth, which actually makes me feel better even as I, too, take my lumps on paper losses in tech stocks. The fact that Asia seems to be economically recovering is very positive. In a year or two, even my Cypress and IDTI shares might climb off their lows. What the long-term effects of the administration's/NATO's war in Kosovo will be on our economy and stock market are very hard to figure out. We might quickly declare victory and bail out. Alternatively, Mr. Clinton might find himself drawn into a sticky morass involving grunts on the ground that could be awful. Little good has happened thus far, and the road to hell continues to be paved with good intentions. In about fifteen minutes I'll get a feel for today's opening. My useless, illogical gut feel is that it will be up. Keep your spirits that way, and let me paraphrase the old saying, "Nobody, not even David, wins em' all." Best of luck. Sam