Forum Archive Index - April 2000

["hugh webber" <hugh.webber@clear.net.nz>]

I see Spectrum strengthened a little today....I wonder what is
happening within that very mysterious organisation. Presumably
the CEO designate from WEL who was making all the right noises, John O'Hara
wasn't it,
asked for more than they could afford or showed signs of overrunning
the Board or both.
At the risk of running into the 'names' trap I would note that P H Masfen 
from a fairly rich and accomplished NZ business family and personal 
career is involved in SPE and may be sorting it out behind the scenes.
We all like a good mystery don't we...I'm not recommending them as a
marginal pocket money spec as I was when John O'Hara was running hot
but I am curious.
I suppose that the Nasdaq may be close to its bottom on the trends to 
date; perhaps the chartists could tell us what their charts say on that?
>From memory chartists were conspicuous by their absence after October 20
1987.....we didn't get any quotes on what was going to happen to check
against
what actually happened later but I suppose the charts were all drawn rather
later
so it could be seen that it was actually a very recognisable pattern but
one just 
didn't know which one until it was all over....
Bottom fishing, thats a good phrase, according to the commentators bottom
fishers
are now appearing.
Turning to the NZSE I would note its only about 130 below the magic 2200
mark you fellas were having a competition on, thats about 8% short so I
still
see that within reach particularly with more corporate activity a bit later
this year.
Why not rejoice in the solidity of the NZSE rather than despair at the
plunge of the Nasdaq.
The biggest techs of the lot, the Telecoms & seem to be holding their value
very well...
its just the ones without any revenue or near term profits which seem to be
having just a little bit of bother.
I wonder if there was any manipulation of the Nasdaq? short sellers and all
that.
Probably fairly easy to arrange with the latest devices of lending out
shares for a
period allied giving the overleveraging a timely push and bingo. I suppose
the Dow is going down
as people continue to sell to meet their margin calls on the Nasdaq. 
But once the actual bottom is reached I think it will all recover quite
steadily and nicely.
Good bottom fishing to you, of the real value ones that is.

cheers,
hugh















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