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Technology Stocks : JDS Uniphase (JDSU)
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To: SJS who wrote (2723)12/8/1999 9:17:00 PM
From: t2  Read Replies (2) of 24042
 
Steve, I agree with you.
I do look for overreaction as a way to buy in at good prices or underreaction as a chance to sell.
For instance, Nokia sold off early this morning due to the Ericson/MSFT deal. It was an easy opportunity to make some cash pretty quickly--which i did. Just don't know what those seller or short sellers were thinking. I am not speaking about the fundamentals of the stock as an investment---just the trading opportunities.

Going back to the news about insider selling. It does not mean that sellers are quickly dumping the stock. It could simply be a slight hesitation on the part of buyers. The end result is the same especially when the stock is a high flier. Just creates just enough selling pressure to cause a price drop and others pile on.

JDSU is still not in the 2 weeks prior to the stock split period but we are getting close. I think by the end of the week, the stock split momentum investors will pile into the stock. The only thing that could spoil the party is a major selloff in the markets but even that would reverse by early new year. In any case the Y2K selloff appears unlikely. Where are people going to put their money---in bonds? Then the yield drop and we are back into stocks again. What a cycle.

I noticed that the stock finished bid 247 and ask 251 by end of the island afterhours session (last trade 249 3/4). Too much demand for this stock.

I just wonder if there many hedge funds out there that just wait for the insider selling reports and go crazy with those stocks. They just have to be right in the majority of situations to make money.

The market doesn't function like a rational investor does.
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