It's good to hear your thoughts Dave. Who knows, maybe my extreme bearishness is a contrary indicator too. I think, to a large extent, I've been able to maintain a fair amount of objectivity simply because I haven't had a "portfolio" since feb. 2000. It seems to me that the indices have been painfully tracking back to historical ratios over the last year, after what can only be described as drunken binge in '99.
Quarterly comparisons don't get better, or should I say more realistic until the latter part of this year. Techs are cylical, after all. Without any new killer application that businesses need to ramp up to, combined with excess inventories and stock overhead, it seems that time is the only thing that'll allow these negatives to work their way through the markets. Until we get that "visibility," everything continues to be a very short term trading game for me. Based on the oversold condition, a bounce is a real possibility. The biggest problem in techland is that until the visibility picture is clearer, all rallies will continue to be sold, and the volatility will continue...
But hey, the futures are up today!
Donna
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