Hi blaireo;My theory that CSCO woes are CSCO specific seems to be borne out
this AM.
@ 0850, shares 120000, JDSU down 1.81 to 50.
My theory is that CSCO woes are CSCO specific
Message 15310218
We got PMCS, AMCC,BRCM,XLX,SCMR,trading lower
though JNPR is only at 98 which is usually a great
buy considering it'll go to 140 in a flash, historically.
Nasdaq is down 49 , not the maximum 65 this AM.
CSCO is down to 32, 3.5 from yesterday.
I suspect that Naz will hold it's gains today
which will be good technically.
JDSU seems to be holding. One reason may be the lack of
agressive shorting
now that the JDSU / SDLI merger is approved. The gap
has disappeared and so there is no reason to futher short JDSU, as per this post
ragingbull.lycos.com
The above post can also explain why there was no " pop "
yesterday from short-covering after the merger news.
People did not go out to buy shorted shares: they are
awaiting delivery after the merger.
So today may represent a great buying opportunity
in many tech stocks if prices go down.
Higher wage costs today may have to do with the fact
that companies have to pay cash now instead of devalued stock options
which employees don't want.Also because employees cut hours
rather than hourly wages. When Economy picks up, the
hourly wages will go down
.
Anyway, that could be offset by a nice tax cut
combines by future spending restraint so as to
allow perhaps an industry tax cut, later, as well as keep inflation
at rest.
So as you can see blaireo1 from your
previous post last month things are not significantly improved
with me:still getting periodic bouts of irrational exuberance.
I have to go, Greenie has left me a message
on my voice mail.........he says he is going
to raise my rates unless...I......
I say scre V V him!!!!!!!
:-)
TA
BTW, JDSU moving up to 50.25 |
