Redback Networks, Inc. (RBAK) Message Board

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Technology Stocks : Redback Networks, Inc. (RBAK)

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To: Lucky888 who wrote (999)	8/30/1999 4:28:00 PM
From: Jenne	of 1956

This Tape Will Rise Again By James J. Cramer 8/30/99 3:43 PM ET Tough day for the Red Hots, isn't it? Don't you wish that Lucent (LU:NYSE) would bid for Sycamore (another Cerent type)? These are stocks where a 4-point move down means nothing -- except it's just as painful as any down move. Today we are not touching these stocks. They are very bond-sensitive and we would like to see some stability in the bonds before we buy some of these. Oh, we picked up some JDS Uniphase (JDSU:Nasdaq) down 4, but we haven't been inclined to buy much more. We want rates to stabilize -- that's what juices these stocks. What is so surprising is that the same people who buy these stocks recklessly tend to buy them aggressively on the day before month-end. That's today! Gadzoox, where are the buyers???? Do I feel discouraged by days like today? Nah, I just feel that someone is pressing a negative agenda. After we see big put buyers and more shorting and a return to a more placid bond market, we will ramp right back up. Of that, I am sure. But I can't commit big money until stocks are down even more. It was just last week that the market was flying. We are pulling back nicely -- oxymoron -- and I am letting the market's wall of worry be rebuilt right before my eyes. Random musings: Do these banks stink or what?

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