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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 74.40

-1.4%

Jan 14 3:59 PM EST

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To: The Phoenix who wrote (35869)	5/19/2000 3:07:00 PM
From: lawdog	Read Replies (1) of 77400

We may have a short term bottom. The volume has decreased considerably since this morning when CSCO was getting clobbered. This begs the questions, though, as to who was selling. Someone big unloaded their shares this morning and they want out of the NASDOG techs. It was definatley institutional selling. I doubt that this morning was the end of it, it looks like the rats are getting off the sinking ship. I would say the odds are in favor of CSCO resuming the downtrend in the near future. I will buy some QQQ only if the NDX falls into the 2ks. There is still way too much optimism in the NASDOG, as is evidenced by Crystal Bull and the belief that ridiculous valuations are bargains because the csco's are no longer as ridiculously overvalued as they were a few months ago. CSCO at 35 is no bargain, but the thought of CSCO at 35 is considered impossible. CSCO at 35 is still expensive, that should tell you something about the price right now. Hmmmmm. It gives me pause to reflect on how the selling spread to the S&P and Dow. My only stock that was up this morning was ABX. The techs may take down the entire market.

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