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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.39+1.3%3:59 PM EST

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To: Eric who wrote (36123)5/22/2000 6:55:00 PM
From: Technician  Read Replies (6) of 77400
 
Au contriare, CSCO is an excellent short here, I cannot see
it going past 60 with summer dooldrums and new fed hike in the offing, besides beating earnings by a penny is getting old, I see the momentum more towards 45 or even 40.

CSCO is great etc; but don't forget its PE ratio today is
almost twice it's historic PE, earnings growth is same as before and interest rates are a $1 higher, what does that mean? CISCO was half as expensive with same earnings and lower interest rate environment not too long ago, go figure!
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