Cisco Systems, Inc. (CSCO) Message Board

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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 83.12

+3.1%

Feb 3 3:59 PM EST

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To: bambs who wrote (34145)	4/18/2000 10:24:00 PM
From: The Phoenix	Read Replies (2) of 77400

LOL! I think that if the market rolls over in the next week we can bet on CSCO at least testing $60. Now it's $60. First you were shorting at $70.. now $75. You were hoping for a pull back to $55 - now $60. I know investing isn't an exact science but you need to have more conviction in your trades than that. Gary asked why I didn't short at $70 today...I think you know the reason. How about a record up day for starters. That was yesterday. There was no gap up today.. just more buying. . It did move from 82-55 in the past weeks Indeed it did. A near 30% move to the downside... indeed. Take a look and see how many other times CSCO has done that and take a look at what happened afterwards. I don't think you'll see a second test of the low. Don't get me wrong.. I won't be surprised if there is profit taking and perhaps we touch $60 again..from here.. but if this pup goes to $75 you can wave bye bye to $60. Earnings are next month and I would expect a run up to earnings ... as always. I think it's funny how people fall in love with their stocks and can't seem to take anyone even suggesting that a pull back is likely. I agree. And to be honest it's really really hard not to love this stock... just look at the chart and consider that many here have cost bases down at $20, $10, $5, and lower. Fortunes have been made. A pull back is a buying opportunity to these people - nothing to worry about. At the same time these folks have been here for years and have watched how this stock behaves over that time. I think it would be wise to integrate some of these thoughts into your assumptions. Like I said.. pull back after a $15 run up is indeed possible - even expected... but typically you see a 50% pull-back on the gain. That would mean if you pull back from here we'll see 61-62. If we go straight to $75 the pull back will likely be to $65. HOWEVER, if we see small pullbacks of $3, then runs of $10, and we creep up that way CSCO will be setting all kinds of new resistance all the way. SOOOOoo, If you believe we're going to $75 you should go long here - that's $15!.. just what you were expecting to get from the short at $70. If we creep up as I suggested above you'll be glad you're long. AND, if we gap up - you're still long and can short at that time...and it would probably be a good short. Good luck. But I think you could learn a little from what's being posted... even if it has a zealousness about it. OG

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