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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 72.07+1.4%10:36 AM EST
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To: bambs who wrote (44543)12/14/2000 7:16:04 PM
From: The Phoenix  Read Replies (1) of 77397
 
Bambs,

While I agree that it appears we'll sell off from here (too bad you exited your shorts) I disagree - once again with your assessment.

telco debt could lead to a world wide credit crisis! that's what they said.

thats what I have been warning Gary and T2 about for months

there is no indication that telco debt has anything to do with todays' weakness. Financials taken down by JP Morgan, MSFT warned, economy slowing... there is no emprical evidence in any way that suggests telco slowing has anything to do with today's softness. And this is my point all along with you. You have this underlying need to somehow demonstrate your prowise when in fact your right for all the wrong reasons.. which is actually dumb luck.. akin to the bulls that ran the market from 4000 to 5200 buying up stocks without understanding them along the way.

Real pain coming.. perhaps. I exited my trading positions two days back so I do agree with you. The fact that the NAZ broke support is not good and the selling in CSCO due to Daichients departure may not have any basis but if CSCO finishes <48 on Friday significant technical damage will have been done.

Of the total debt what percentage is associated with telcos?
Think about that one.. and then consider if all these defaulted what the impact would be. Do the math.

OG
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