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Technology Stocks : Juniper Networks - JNPR
JNPR 39.950.0%Jul 2 5:00 PM EST
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To: Conan who wrote (2158)2/9/2001 4:38:57 PM
From: Herschel Rubin  Read Replies (3) of 3350
 
Today's NASDAQ close at 2470.96 is virtually equivalent to where the NASDAQ started the Year 2001 (December 31, 2000 close was 2470.52).

From this January 2001 Nasdaq high of 2859, the Nasdaq has now CORRECTED by 13.6% -- A healthy correction, to say the least.

In other words, the Nasdaq (and JNPR) have completely given back the gains attributed to the following:

1) We've had 2 rate decreases totaling 100 basis points with promise for more rate decreases on the horizon.

2) We've made it past the worrisome Q4 earnings reports that had the markets so jittery in December & January.

3) JNPR released good earnings and positive forward-looking statements, unlike CSCO.

4) We are getting closer to JNPR's announcement of its 20 Gigabit Core router.

5) The DELL'ORO Research report on Core Router Market Share is coming out in the next week or two. JNPR should get a boost from this.

6) Numerous respected pundits have indicated that the economy is NOT going into a recession, which is something we were less certain of on January 1st of this year.

So there are a lot of factors that indicate the NASDAQ shouldn't be as low as it was at the beginning of this year.

Expect a big short-covering rally on Monday because shorts fully understand that the marginal gains for a short position from this price level is more difficult to attain. JNPR is now way oversold from any technical standpoint (Stochastics, RSI, etc), as is the Nasdaq.
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