Forum Archive Index - February 2000

["Alan Gray" <loons@wave.co.nz>]

Hello everyone......thought I should say something regards all the talk
about e-stocks lately......first of all my opinion on all the depressing
comments...

The thing we have to look at is the big picture, the US Dow Jones has had a
substantial correction which was overdue...this index has risen relentlesy
for years and yet all the big players and fund managers never complained!!!
so now the money is to be made in the Nasdaq or e-stocks anywhere......over
the last couple of months those folk who ignore the tech stocks have had it
so good for so long even when the Nasdaq has been soaring, have now been hit
harder.

The last few weeks which have seen the volitility in tech stocks especially
in NZ as US investors who had big money in the Dow index, now see red all
over their porfolios and pull their money out of NZ tech stocks creating a 2
week sell off. All the institutions and CEOs of major blue chips are seeing
reality in losing big....fingers are pointed at tech stocks and deliberate
rumours are fed to the media about bubbles bursting etc...even Meryill Lynch
heads are using the current volitility and outside weaknesses to convince
the world that the bubble is bursting...trying to push us over the edge into
mass panic selling.this has had some effect outside the US on our own stocks
across the board...but the Nasdaq...instead of going down like they hoped
for, it has soared again last week!!!....money is fast being switched into
these stocks...why??? because this is the future LIKE IT OR NOT...and it
will continue until saturation point and exhaustion is reached...

One last important note.......if they succeed in deflating the stocks like
they want...it will have an immidiate knock on effect on all world econimies
and markets and very likely put us all in recession...Mr Greenspan now says
that stocks should not be targeted by interest rate rises!

Good trading.








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