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[sharechat] Warning signs of major tech slide

From:	pugh david <dwtpugh@yahoo.co.nz>
Date:	Wed, 10 May 2000 06:54:16 +1200 (NZST)

Simon,
Thanks for the tech slide warning. I sold my SMR and
ADV shares yesterday (might go back in at a lower
entry price)and resisted Pied Piper Heatley's call to
go down the eVentures way. As you correctly pointed
out, the Nasdaq is down by 7.35% over just two days.
All forecasts are that it will plunge down even
further. The logic of investors sinking their
hard-earned money into any tech stocks at this point
in time therefore is mad folly and I couldn't really
understand the eVentures buying frenzy yesterday.
Investors should have noted that tech stocks in
Australia have not recovered from the 17 April major
correction and have continued to slide downhill at a
frenetic pace since then. But I suppose you can lead a
horse to water...but you can't make it drink it!

David Pugh



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