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Technology Stocks : AUTOHOME, Inc -- Ignore unavailable to you. Want to Upgrade?

To: Badshah J.Wazir who wrote (10140)	6/3/1999 10:34:00 PM
From: E. Davies	Read Replies (2) \| Respond to of 29970

>> Someone suggested 50-60% retracement of last 12 months gain! any thoughts One year ago ATHM was at 33. The high was 198. 50% retracement of the gains is 115. 60% retracement of the gains is 99. We are there, FWIW. Eric

To: Badshah J.Wazir who wrote (10140)	6/4/1999 12:28:00 AM
From: ahhaha	Respond to of 29970

The market will go wherever it has no right to be. Hold your cash and don't bottom pick like the clowns on this thread or on most threads in SI. It is sine qua non of what not to do. Stay away from technology and consider resource stocks. The challenge is to stay out. That's the hardest thing to do when a bear market rally develops. Unless you're a skilled trader and you won't find any of those making public statements about their positions, you have to avoid being sucked in when the mania comes back. It always does in bear markets to less and less degree. The bear rallies to keep the confident in. Thus there is no particular level of re-entry because you don't know to what extent $30/bbl oil, union wage demands, protectionist barriers, rising commodity prices, and a FED which is boxed in from taking any action just like 1979, will knock the market down. In light of the absurd level where it currently sits based on the completely unjustified assumption by the Greenspan FED that they have solved the business cycle, it wouldn't be surprising to see the market lose half its level. This is merely based on the observation that the majority of large company's stocks are trading at twice, TWICE, their growth rates. At half the current level stocks would only be fully valued historically. Nothing new in any of this. The public has discounted it. (In a pig's eye.)