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Technology Stocks : All About Sun Microsystems
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To: Sonki who wrote (40526)1/18/2001 1:35:32 PM
From: craig crawford  Read Replies (2) of 64865
 
SUNW finally broke 33 1/2 - 34, thanks to my complaining. works every time :) I'm sorry I put you all through a temper tantrum, but if I have to throw things around the room for SUNW to go higher so be it :). I don't see any resistance at 35 (other than it's a round number). I also don't believe in the max pain draw towards a strike baloney. It's obviously not going to work in this market, especially with earnings tonight. I think SUNW might have some resistance in the 36's. I seem to recall when the CFO denied the fraudulent accounting charges SUNW got a pop in after hours that day, but couldn't get past the 36's. Perhaps a lot of people bought in on that bounce.

The point is, SUNW finally broke major resistance and short-term downtrend lines, the Nasdaq has broken it's 4 1/2 month downtrend line, and the Sox has broken out above 700. The Nasdaq 100 has broken out as well. All of the averages are green today for a change. This is the market action I have been calling for the last month. It's finally arrived and I just want to see my SUNW participate in the action and close above 34 on heavy volume.

The S&P is bumping right up against resistance here at 1350 though. Would be nice if it could break through as well.

P.S. My target in the last month or so since I have been buying SUNW was 38 or hopefully 40. I guess that is possible now if the market doesn't pick apart SUNW too bad. I'm sure the market will look for any little weakness to pick on SUNW about. Revenues can't be light, margins have to be good, outlook has to be good, etc.

I wish SUNW would announce a stock buyback after earnings but I guess that is just a pipe dream.
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