During the Telecom Bubble many people thought it would continue to rise forever as companies like Global Crossing, World Com and others watched their stocks soar through the roofs. In hindsight later after it all came tumbling down many people said that World Com was a sham and those contracts for international communications with Global Crossing were not worth the paper they were written on due to the instability of the governments who had signed those contracts.

Nevertheless everything just kept going up. Some made warnings and even Greenspan had warned of Irrational Exhuberence a few years the prior, not necessarily towards telecoms, yet it really had not been that long since the bubble burst in Silicon Valley.

Personally, I saw that coming as the Telecoms bought hyper-inflated frequency allocations bids from FCC and/or winning bids from VC. There were all sorts of games being played on the brink of 3G wireless and other technologies and they should have paid attention and invested in the future rather than playing protectionism and following the broadband hype of fiber optic. Long story.

It is amazing how history repeats and sector rotations occur and move around in cycles. Some technical analysts of stocks can see it, when things do not make sense and corrections are long over do. Similar to the stock market as a whole which had one of the biggest drops recently in six years and gave back all the gains of this year. Consider all this in 2006 when picking stocks.

"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/wttbbs/