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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.10

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To: Suresh who wrote (27963)	9/6/2000 12:54:37 PM
From: Johnny Canuck	Read Replies (2) of 69965

I only follow FIBR from a distance. Most of the pressure is being applied by people exiting the stocks when the IPO did not appear. I almost bought an initial position yesterday for a dead cat bounce. There have been some questions about Sorento's hybrid approach to the optical networking segement. I only caught the tail end conference call. The last analysts pretty much wrapped up how people feel about the company. He wanted access to the Sorento CFO. He wanted a demonstration of Sorento's technology. He wanted access to the technical and financial people at Sorento. This does not sound good short term. I can't see anyone defending them given the lack of understanding of the company. The spinoff was cancelled because it would have triggered a 40 percent tax rate and then would have had to sell 1/2 of he Sorento shares alone to pay the taxes. I am not sure of teh specifics of this as companies like METHA seem to be get away with it just fine.

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