Nick - I see a small possibility on NT bouncing at current levels, which is what you're playing for. There is a greater chance it will break below 30 U.S. once again in the coming days, and by all accounts the chart will be broken technically then. Earnings will obviously dictate which way it goes. Tonight we have the following to watch for earnings wise - AMCC, FDRY, JNPR, LLTC, NVLS, INTC. On Wed - KLAC, AAPL, AHAA, CTXS, EXTR, IBM, ITWO, RBAK, XLNX. On Thurs: ALTR, CMRC, EMLX, INKT, MSFT, SONS, SUNW, TMTA, NT.
AMCC will be the one to watch for due to the fact that a good percentage of their orders come from Nortel. JNPR weighs just as heavily on the networking sector. You would hate like hell to see JNPR's sequential growth and forecast diminish given the fact it trades at such a lofty P/E. Quite a few analysts are counting on it to pull through. |
