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Strategies & Market Trends : NetCurrents NTCS

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To: Teresa Lo who started this subject	10/23/2000 9:37:31 PM
From: Teresa Lo	Read Replies (2) of 8925

LU: Some Thoughts on Sentiment We have talked about market sentiment, and how we need to see stocks stop going down on bad news in order for the market to stabilize. If the market is washed out, typically, bad news will not depress a stock further. One interesting stock today was Lucent, and the dethronement of Richard McGinn, chairman and chief executive. Lucent was expected to report earnings Tuesday, but moved the reporting date up after the board asked Mr. McGinn to step down this past weekend. The company also posted fiscal fourth-quarter earnings that beat lowered expectations by a penny a share, but again lowered its earnings outlook. To be sure, LU did not rally or anything, but just the fact that it is still trading inside the well-defined intraday trading range gives us some clues that the selling may be indeed behind LU. ispeculator.com Teresa

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