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Technology Stocks : JDS Uniphase (JDSU)
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To: TechMkt who wrote (1883)11/9/1999 5:11:00 PM
From: Guy Gordon  Read Replies (3) of 24042
 
RE "Anyone think we're going lower?"

Of course we're going lower. JDSU is 37 points above its 26-day moving average. It only started down three days ago. The Nasdaq just started down today (on record volume) after eight straight up days.

What other direction could we go short-term? We've had great news for the past month pushing to stock to record highs. Time for a pull-back. So what? Hang on and it will go higher. Or buy puts to protect your gain.

I don't see a technical bounce till we reach the 26-day MA. Where that is depends on how fast we fall.

The danger would be in believing that it can't go lower. Then when it does you'll be tempted to sell.
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