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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject4/26/2001 12:58:37 PM
From: besttrader   of 37746
 
12:46 ET XOXO Implications : Goldman Sachs views XO Communications (XOXO) plans to reduce capex and scale back growth as a neutral for Ciena (CIEN) and a negative for Nortel (NT); notes that XOXO represents under 5% of Ciena's sales; could provide opportunity for Ciena to penetrate the Level 3 account. As for Nortel, believes a lot of investors may have already factored this news into the stock.




12:45 ET WorldCom (WCOM) 20.39 +1 (+5.1%): -- Update -- Goldman Sachs thinks rally in stock today probably based on reiteration by management of a stable pricing environment; Goldman rejects this notion b/c it misses the point that revenues are not likely to benefit from what is being characterized as a stable pricing environment in the voice business; moreover, feels that pricing has no where to go but down in the data business, particularly given the amount of capacity due to come on stream over the next 6 months




12:42 ET Nasdaq Composite : -- Technical -- Failed at resistance this morning (2095), tested support at 2065 (both targeted in 10:17 comment) and is now back on the move to the upside. Intraday will watch support at 2080/2078 for an indication of the health of the current push. Continued posture above leaves the door open for a run to new intraday highs with next resistances at 2118 and 2135. A failure raises the odds of a new low with initial support between 2060 and 2050.
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