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Technology Stocks : JDS Uniphase (JDSU)
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To: Tunica Albuginea who wrote (17736)2/4/2001 6:12:25 PM
From: t2  Read Replies (4) of 24042
 
TA, there is much more bearishness now than there was when the Nasdaq was above 3000. So many people called the bottom back then.

Now, everyone seems to be expecting a retest of the lows. My feeling is that it won't happen. Too much happening this week.
1. Cisco earnings will become the "sell on the rumor, buy
on the news". Seriously, is anybody going to be
surprised by any bad news?

2. Tax Cuts will be getting a lot of attention--that could
translate into some positive business/consumer/investor
confidence.

3. Bank of America has a very big technology conference
starting Monday--just take a look at the list.
biz.yahoo.com
I believe JDSU presents tomorrow afternoon--saw a press
release last week with the link of the time for JDSU.

I think investors sold on fears about Cisco. In addition, the short interest has kept climbing on high PE tech stocks in January.
I feel pretty good about the upcoming week because most market technicians expect to see a retest of the recent lows on the Naz---which (IMHO) means it won't happen. Reminds of the "good ole days" when the more bearish these people got, the higher the market went.
We may be about to enter that type of period once more in the tech sector. Will probably be launched by some big buying and huge amount of short covering.
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