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Technology Stocks : JDS Uniphase (JDSU)
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To: trouthead who wrote (2785)12/9/1999 9:41:00 PM
From: Jenne  Read Replies (1) of 24042
 
JDSU $240.38 -3.63 (+10.81) JDSU is proving to be a real channel
changer, causing the screen to get fuzzy and blurred. Ever see
the movie titled Dr. Strangelove? Slim Pickens, in good cowboy
fashion, rode the H-bomb out of the belly of a B-52 bomber. You
can imagine the ending. If you were in a JDSU play, you can
probably visualize the ending here too - at least you could this
morning as JDSU plunged to $228 (old support level). The good
news is we saw JDSU bounce hard off $228 for an impressive day-
end gain - a textbook rebound and great entry point if you
happened to catch it. While the lows are still getting higher,
they have re-established a slower ascending pennant (hence the
"channel changer"). While we anticipate a breakout moving toward
JDSU's Dec 30th split date, it looks to be a little slower in
getting here than we originally thought. One thing to keep your
eye on though is the volume. It has been steadily increasing
this week as the price has been falling. That indicates some
distribution or profit-taking. Even so, we fully expect JDSU to
mount a serious run back over $273 before the split. But current
price and volume tell us there may be a rough ride getting there.
Target shoot ruthlessly at support ($221, $227, $233, and $240)
for your best entry. Gauge the market before making your entry
and protect your position with stops if the trade goes against
you.

optioninvestor
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