Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: SMALL FRY who wrote (113375)	9/6/2000 8:51:41 PM
From: Susan G	Read Replies (1) of 120523

Looks like we can add a new BEAS fan to he list...Cramer <g> Patience in the Market By James J. Cramer Originally posted at 11:49 AM ET 9/5/00 on RealMoney.com Click here for the latest from James J. Cramer. The financials and the cyclicals are putting on a good show despite the weakness in the Nazzdawgs. To me, that makes sense. That's where you have to go when the Fed is so clearly done. Of course, we just had a huge move: The Intel (INTC:Nasdaq - news) downgrade and the Ciena (CIEN:Nasdaq - news) slip-up threw some cold water on the market at the opening, but now the market seems to be shaking off the negativity. Let's look at this Ciena objectively. Companies are going to have some customers who don't pay. Ciena had alerted us of the possibility of a potential breakdown a few weeks ago. But when it happened it still struck us as unmitigated bad news. But how bad? Are we to presume that Nortel (NT:NYSE - news) and Cisco (CSCO:Nasdaq - news) will be similarly dinged? We don't think so, but when everybody is running around "analyzing" the Ciena shortfall they, naturally, take something off from both of these companies. It isn't unjustified, it is simply an issue of how soon the market forgets Ciena and focuses on something else. Lately, the market's memory has been limited to a session or two. It might be safe to buy Cisco by the end of the day. But why rush. We would rather buy a BEA Systems (BEAS:Nasdaq - news) down three. There is no collateral damage there. It's just down on profit-taking. Random musings: The Krispy Kreme (KREM:Nasdaq - news) short squeeze continues. I didn't help the cause, stopping at Dunkin Donuts yesterday. But the bears seem intent on getting crushed in this one.

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