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Technology Stocks : JDS Uniphase (JDSU)

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To: Kent Rattey who wrote (844)	8/26/1999 8:06:00 AM
From: Glenn McDougall	Read Replies (2) of 24042

COMMENTARY >> WRONG! REAR ECHELON REVELATIONS Red Hots Show There's No Such Thing as Overpaying By James J. Cramer 8/26/99 7:30 AM ET Did Cisco (CSCO:Nasdaq) just validate the whole Red Hot movement with this Cerent buy? When you shell out $7 billion in Cisco stock -- which, in the world I live in, is better than cash -- you are making a statement that you don't want to have to pay even more once the public gets a hold of the darn thing. We had been watching Cerent around here for some time. In fact, in my work on my weekend piece about the Red Hots, I was going to include it as the next likely Red Hot. Now it gets taken out by Mac Daddy Cisco at a huge premium to what the momentum funds probably would have paid for it on opening day. Suddenly we may have to stop laughing at what we are paying for the Redbacks (RBAK:Nasdaq) and the Junipers (JNPR:Nasdaq). And go buy more of them. Amazing. Guess there is no such thing as overpaying when it comes to phone-equipment stocks. Another wild day ahead. I can't wait until 9:30. Let's start trading now!

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