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Technology Stocks : All About Sun Microsystems

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To: jim kelley who wrote (24762)	12/15/1999 12:29:00 AM
From: fuzzymath	Read Replies (2) of 64865

You shorted SUNW? I actually like the company a real lot. Timing these big drops is wickedly difficult. Well, one thing that most people will agree on (I think) is that when the market goes sharply lower, the highest fliers often plummet the farthest. I really have absolutely no explanation for this NASDAQ rally over the past few months. The NYSE Index didn't even set a new record in its nice October-November rally. So, the NASDAQ is on its own, flying while the rest of the market apparently has a ceiling it can't get past. Kind of scary, isn't it? I'm not a big fan of divergences. But that is clearly what has happenned. The NASDAQ is disconnected from the other markets (broad stock and bond). At some point you'd think something will have to give somewhere. But, I like SUNW. What I'd do is short the QQQ or buy index puts to hedge my long position... Are you still short, or did you take profits today? 6% ain't bad for a day! Kevin Farnham

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