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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 78.03

+0.8%

Nov 14 9:30 AM EST

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To: Mighty Mizzou who wrote (40334)	10/3/2000 6:25:51 PM
From: t2	Read Replies (2) of 77399

MM, I just hope we get a weak opening for us to rally into. How can the market go down to old lows? Too many will buy into the drop. At worst, I can see a quick dive to about 3300 followed by a very sharp rebound. Too many nimble traders out there for the market to retest the earlier lows. Not all can buy at once and many don't belief in TA anyways--only use to their advantage to get in early. That is, they would be buying into the dip. I think today's selling was the result of just sticking to the pattern. The IBM profit warning rumors could have kept the buyers out of techs. Note that some old economy stocks have been going up, even after their profit warnings. One has got to belief that once a profit on these trades is made, they will be back in tech. CA sort of warns. Based upon the press release, it could actually go up on the news. Too many of the big techs have taken a beating whether they have problems or not. All we need is a small catalyst to turn the balance away from the usual pattern of late day selloffs. When Abby Cohen gets positive (especially on tech), the market usually turns soon afterwards. I am waiting.

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