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Technology Stocks : Nortel Networks (NT)
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To: Ian@SI who wrote (9455)1/25/2001 2:21:09 PM
From: The Phoenix  Read Replies (1) of 14638
 
Ian,

You're preaching to the choir. However, over the past number of months I've come to realize that what we know fundamentally to be true and good does not neccesarily and always translate into increased valuations... especially when the forward multiples are considered by MM's to be too high. So, I agree with you from a technology view and I also agree that we're only scratching the surface but intermediately speaking I don't think this will translate into gains in the market. I think this is a traders market and I've been playing it that way. The NAZ took off in Jan and is a bit extended. A move south of 2700 is in order and GLW is going to help us get there. I'm looking at this as an opportunity and sold some longs yesterday and bought some puts. I will unwind these positions and go long again when we look to be turning - it will likely be sub-2700 and perhaps as low as 2550... I don't expect us to go much lower than that..... unless AG really drops a bomb.

OG
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