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Technology Stocks : JDS Uniphase (JDSU)
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To: t2 who wrote (18524)2/14/2001 1:00:55 PM
From: jmanvegas  Read Replies (1) of 24042
 
In the past, an aggressive Fed lowering of rates would have stabilized the markets. It is obvious that the market has voted thumbs down on the Fed's actions and the markets have dropped in the face of Fed moves. Pretty unusual. The Fed blew it and the market knows it. As a previous poster stated, the market is already factoring in a 1/4-1/2 point cut in March. But we will be approaching another bad earnings quarter. Companies are saying if this and if that, then maybe we will see some pickup in the 2nd half. They have no visibility. None whatsoever. How can investors invest their hard earned dollars on if this and if that. Any rallies from these levels will be met with stiff resistance and will be considered bear market rallies. The charts on most tech stocks look horrible with severe overhead resistance. Folks will be looking to bail if they get close to breaking even on any rallies. The sequential growth on most tech stocks are downward. Look at JNPR, for example. Their growth slows dramatically in 2002 to about a 35% growth, down from over 100% growth. The travesty is that any tax cuts flowing into consumers' hands will be handed over to the utilities and energy companies. The transfer of wealth is occurring before our eyes. And the complacency goes on. It's ridiculous to have a 61% current bullish stance and a benign put/call ratio. Everybody is hanging their hats and hopes on the Fed. It has always been don't fight the Fed. The rules of the game are changing. The old rules don't matter anymore.

Now please don't get me wrong. I'm long some tech stocks and getting hammered just like the rest of you folks. I'm looking to get out on any rallies. So are the insiders of tech companies. For example, BRCD's chairman has only some 4M shares of BRCD. He's already sold most of his stake. The big money left many months ago leaving the bag to the small investor like me and you folks. I smell a big Wall Street rat. Good luck all. We're gonna need it. All IMHO.

jmanvegas
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