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Technology Stocks : All About Sun Microsystems
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To: JDN who wrote (36998)10/26/2000 12:00:41 PM
From: High-Tech East  Read Replies (2) of 64865
 
Hi JDN ... welcome back ... from my limited skills and training in interpreting charts technically, it looks like SUNW has strong support in the 94 or 95 area ... a significant piercing to lower prices would leave strong support at around 83 and then around 67.

I am not saying that I expect SUNW to reach any of those levels, but there is not anything that would surprise me in this market at this time (other than a strong overall stock rally that lasts for two weeks or more).

My own personal view is that we are not even close to the end of all this ... and whether the end comes with a large one or two day event as in 1987, or we are truly looking at a grinding bear as in the early 70s ... the true culprit is a slowing US and world economy that is driven by higher interest rates.

It is precisely the price action in SUNW (the last two days especially) that has caused me not to take entry positions in Sycamore Networks and Teradyne, two Boston based companies that I want to own and whose prices are very attractive presently. If SUNW, probably the greatest of technology companies, has the potential to decline significantly further (and I believe it does) then there really is no safe haven in any technology stock (and probably any common stock overall).

Disclaimer: The above is my personal opinion. I recommend that you do not base your investment decisions solely on any one person's views or analysis (including mine). Do your own research and take personal responsibility for your investment decisions.

Ken Wilson
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