SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : JDS Uniphase (JDSU)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: mslawyer who wrote (8766)4/13/2000 5:39:00 PM
From: lawdog  Read Replies (3) of 24042
 
I would not want to be long JDSU at this point. Next support looks like 200 day MA currently at 64.75. If this level is reached the market will be a very scary place. I imagine the selling would have spread to all the indexes by that point. Do not underestimate the carnage that is becoming more and more possible with each day of the slow bleed.

The amazing thing is that the last time we saw selling even close to this was back in July and August of 1998. The Nas declined about 28% at that time. Right now we are at about 25%. However, sentiment was far more negative in 1998, with the VIX at 45.69. The average investor just isn't worried enough about this market. Today's VIX was reading 33.95, not even a 52 week high. This signals more selling and the possibility of a selling panic. Instead of an orderly exit of positions, we may get a panic sell ala 1987. There's just too many things wrong with this market.

Another problem is the put:call ratio. It has been around .5 for each of the days we've sold off. Again, isn't this overly bullish considering the way the markets are behaving. People are acting as if nothing was happening. Maybe they are in shock? Do they think that the NAS is just going to rebound back to 5000 in a few days?

IMO, the bottom will be fast, furious, and severe and you will know when it has hit.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News