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Technology Stocks : JDS Uniphase (JDSU)

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To: Tunica Albuginea who wrote (17721)	2/3/2001 2:40:35 PM
From: t2	Read Replies (5) of 24042

One good thing I can see about the current market environment is that now so many people are expecting a retest of the recent market bottom. I hear no one saying that the current level is the bottom. Remember Nasdaq 3000---so many said it was the bottom and guess what happened... Now I feel more optimistic. Another reason for the optimistism is that there is no tax loss selling. In addition, portfolio managers have cash to use. Short interest has been increasing in growth and high growth tech stocks almost monthly. I would bet it increased this past week as well to high levels. The rotation out of tech may have come to an end as there are so many bears on tech. So many want a retest. I am getting very optimistic; I don't mind seeing another 100 point decline Monday/Tuesday so that I can load up call options going into February expirations. I believe Cisco's earnings will be a non event for the downside; everybody already knows the story; it is no secret. Buy on the news is my expectation. Even if Cisco is worse than expected, their competitors will come out and make their case about their own businesses. Share buybacks announcement are also around the corner. I would not rule out some high growth stocks taking this step either because the CEOs/CFOs have to evaluate whether buy their own shares is a good investment and I bet the companies that are doing will take the initiate. Companies certainly seem to be using the debt market to raise cash and the buy backs could be one use. TA, After listening to PMCS's conference call; it seems everyone put business on hold. Now if there is a pickup in demand a lot of it could come from orders that just got pushed out; meaning they new orders as well as the pushouts. That will translate into growth as one quarter (December) is already written off by the market. That is reflected in the stock price declines.

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