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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 674.96

+0.9%

Nov 25 4:00 PM EST

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To: shasta23 who wrote (25716)	3/24/2000 2:47:00 AM
From: Johnny Canuck	Read Replies (2) of 68292

Hi Stefan, >>GLW rocking. To bad my wife sold yesterday at 200. Told >>her to wait for test of all time high but she was still >>unnerved from the ups and downs of the last days. GLW just pre-announced earnings that will be higher than estimates. It got an upgrade with a $250 target. Given the pre-announced estimated it has a forward P/E of 50 in an industry segment growing 100 percent per year. The downside risk was 190 and 170 and given the pre-announcement, there was no way it would break below 170. With the end of quarter window dressing, this was also a must have stock for the fund managers as it more reasonably valued than JDSU, ETEK, or SDLI. It is hard to let your winner run some times even when the fundamentals are on your side.

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