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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: KevinMark who wrote (117463)11/29/2000 10:21:24 AM
From: Lane Hall-Witt  Read Replies (1) of 120523
 
KevinMark: Congratulations! I'm glad the reporter tracked you down and got the story. Nice thread, too. Thanks for posting the article--.

BTW, what carnage today, huh? CIEN, ITWO, JDSU are toast. I made my daily CSCO scalp in the first twenty minutes and probably will just watch from here on out. I'd say we're approaching the point where we can expect a trading bounce, but we need to see the SOX stabilize before I'd be willing to hold any long positions for more than, oh, a half-hour. It would also be nice to see CSCO fall off a bit and the financials price in some of the bad investments they've got on their books. TheStreet.com had an interesting article yesterday about vendor financing at CSCO -- still giving out substantial loans to CLECs that are on their deathbeds, the implication being that CSCO is digging to meet numbers by recording sales by any means possible. If business is really so good, why carry along the Rhythms and Winstars of the world?

That GDP number this morning was the worst possible outcome: growth slowing substantially enough to have a real impact on corporate sales and earnings, but probably not enough to hit the Fed with fear. Three Fed honchos were out on the wires last night saying that inflation is still the primary risk in the American economy, too. The equity markets are hoping for a friendly Fed, but I don't see the Fed coming around just yet.
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