Mark,
I agree with Jeff. I am watching LUCEND really close to pick my entry point. There is a definite sector rotation going on right now as some of the big market players move into areas that have been neglected during this rally. My oil service stock CLB is on fire today as are a few of my other sector stocks. As long as technologies, as a whole, continue a slow descend I will only watch them and hold what I have. I definitely am looking to get back into Ascend before the merger with Lucent.
I for one don't think that this has anything to do with Lucent, Ascend, Cisco, etc. For this market to continue its tremendous expansion other segments of this market have got to participate in the rally. I think that is why the financials, paper industries, and oil services stocks are picking up the pace. Go back and look at the charts. While your Cisco, Lucent, and Ascend stocks were doubling and tripling some sectors were being cut in half or worse. While there has been some reason for concern in other sectors such as the Asian flu and Russia loan crisis, not every stock deserved to get pounded they way they did.
I am waiting as patient as I can.
Cheers,
Steve |
