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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 73.95

-1.0%

3:59 PM EST

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To: t2 who wrote (65980)	8/11/2004 10:58:48 AM
From: larry	of 77400

QQQ is no longer a great short since it's no longer an index of tech issues. I do believe that tech will suffer in the next leg down, but believe that financial stocks will suffer much more because they have reaped in too much benefits from free cash from Greendaddy and the game is about over. When companies like GM generates a significant portion of earnings from loans/mortgage, you know that the game is about to be end. I haven't shorted anything in this downturn outright. Did purchase some puts on AMZN and AMAT last month and have closed all positions recently. However, I do feel that both issues have some serious room to go down in the fall though. The business in Boston area is slow with the exception of the housing market, which is going like crazy. Several of my friends who recently lost jobs have all commented that the hirings have all halted since the end of June. Good luck.

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