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Technology Stocks : JDS Uniphase (JDSU)
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To: zbyslaw owczarczyk who wrote (15283)12/23/2000 11:57:29 AM
From: DlphcOracl  Read Replies (2) of 24042
 
JDSU: Caveat emptor.

JDSU is still not a cheap stock and NASDAQ broke important technical support at 2500. Additionally, first two weeks of January will continue to provide evidence of a dramatic slowdown, with more earnings warnings and misses from tech stocks.

JDSU may look cheap at 40-41, but there is a real chance NASDAQ may descend to next support level at 2100. JDSU may get a lot cheaper. Additionally, JDSU had poor relative strength in the FIRST half of 2000 relative to CIEN, NEWP, SDLI, etc. Check the last year's charts.

My point: JDSU is STILL a great LT holding, but in the short term it may get cheaper. I would be loathe to buy any tech stocks until after mid-January. If I miss the precise bottom, so be it.
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