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

To: JDN who wrote (6053)	4/29/1999 2:05:00 PM
From: space cadet	Read Replies (2) \| Respond to of 17183

I agree that emc is one of the most dependable companies to make or slightly exceed its numbers for the next couple of years. In the msft class in that regard. However, I get the feeling from this ugly market that we may at least temporarily be entering the "value" zone. Bad news for hi p/e stocks like emc and csco. I think that is the true sword hanging over emc. How can it go up when its p/e is so high already? Only way I see is for emc to record some blow out earnings, which is not likely. The other thing bothering me is its technical chart. Where is support for emc? At 100? Maybe we go back down there and make a double bottom. If 100 doesn't hold then all bets are off and we could really fall some from there. I have a lot of emc and with this market and its hi p/e and ugly chart I am beginning to get worried here. Should have bought some puts a few days ago when they were relatively cheap. I have a feeling that may may get really ugly for the techs... If emc doesn't close below 100 during this market downturn we should be ok. Also, emc is slowly metamorphising into a software company (at least in part) and this year software hasn't been a fun part of the stock market (except for mr. softie). I anticipate that in the second half of the year software stocks should return with a vengence and then emc may fly quite a bit. In that case, I could justify emc closing 1999 at 160 or so, pretty nice upside from here. Conservatively it should close at least at 135. But until it's upcoming split I believe we are in for some rough weather. Internet stocks may get shot right here (and alot of them deserve it, amzn, etc). emc is an internet play but not an internet stock. I just hope the market remembers the distinction while they are busy executing the crazy inets...