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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (115823)10/31/2000 12:05:14 AM
From: Jenna  Read Replies (1) of 120523
 
SNWL and other stocks trading at discount multiples should move up. Nasdaq has got to move to the upside and join the Dow as money is being siphoned out of the tech sector and into the dow stocks. If this negative correlation continues, nasdaq stocks, especially those with high valuations and there are still quite a lot, will continue to move down consistently. Since the downtrend is so strong, I still think shorting rallies especially on blimps JNPR, RBAK, BEAS is the way to go. BEAS might give a little edge tomorrow on the upside. SNWL moved up nicely as it trades at a 18% Discount PE Multiple of 48.9 X, vs. the 59.4 X average multiple at which the Networking SubIndustry is priced. SNWL also posted $0.10 versus $0.01 and for $0.10 earnings the stock is undervalued.

JNPR CORV RBAK SCMR FDRY PMCS AMCC still overvalued. I imagine they will offer long opportunities as bear flag rallies, on the way down to decent valuations
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