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Technology Stocks : JDS Uniphase (JDSU)
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To: Hank Stamper who wrote (10108)5/9/2000 5:11:00 PM
From: djia101362  Read Replies (5) of 24042
 
I have never seen such overwhelming bearishness for as long as I can remember. I'm not referring to this board but to the investing community both professionals and individuals.

It's almost as if everyone has taken on the personality of Barton Biggs.

They say bullish/bearish sentiment is always a contrarian indicator kind of like the put/call ratio...I hope this holds true...If so, we should be OK.

I have to imagine we are near a short term bottom. I still feel that we have made are lows in the Naz and JDSU back in April. This backing and filling stuff as agonizing as it is, is good for the market...at least I'm trying to convince myself that it is.

I'm probably like many others, I don't want to get out and sit in cash for fear of missing the rally. But sometimes I'm not so sure that there will be a rally anytime soon. I'm not even sure we will get the relief rally many are looking for next week after the Fed meeting.

But I do think that we will be higher eventually...I just wish I knew when. I'm not a market timer and whenever I try to tell myself I can do it, I only end up hurting myself.

What I do know is that JDSU is growing like a weed. They are selling everything they can make and this will continue for "as far as the eyes can see". The ETEK merger when finalized should provide a catalyst for a rally in JDSU stock, sustainable or not.

These are some very frustrating times for individual investors as you might have guessed from the tone of my post. I'm confused, I'm pissed off, and frankly I'm not sure what to make of this market.

I think I need to take a deep breath and do nothing, stop watching the market for about 6 months, and I'm sure everything will be OK.
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