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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 78.34

-0.1%

Jan 30 3:59 PM EST

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To: Jacob S. Rosenberg who wrote ()	5/30/2000 4:44:00 PM
From: bambs	Read Replies (2) of 77400

I was surprised to see that the market didn't sell off in the face of increased consumer confidence. To see those higher highs following that news was a signal that real buying was present and the shorts seemed to covering under the pressure. We should see a follow through to the upside this week but I think we may have trouble with the 3600 level. If not, we should test 4000 near term. I do think that we will see more interest rate hikes in the future and a retest of 3000. I don't really understand the logic behind the buying today but there is no point arguing with the tape. If the bulls think this is the bottom and want to buy this dip...so be it. In the end fundamentals will win out. I'm sure we will have some surprises in the summer. But, for now we had a record up day....low volume makes me wonder though. Bambs Don't forget the crash of 1929 took 2 years to complete. The buy the dip crowd don't change their habits over night. In the end everyone will have to look at fundamentals.

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