Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: SliderOnTheBlack who wrote (87277)	2/15/2001 1:38:56 PM
From: ItsAllCyclical	Read Replies (1) of 95453

>> This NAZ rally bounce off of one company (Cienna) - which is a mere good news ripple in a pond of bad news - is ludicrous.... << It started to bounce before the CIEN news yesterday. After selling off from the 2800 area to the 2400 area it was due for a bounce. The question remains as the quality of this bounce. Happy to take profits now on GLW, but I think we see 50+ before it's over therefore continuing to hold for now. Nasdaq composite chart. Again not quite a double bottom, but close enough for me. 207.61.23.98 CSCO, JDSU, JNPR, GLW, NT, AMCC... Many of the optics plays and the networkers had been slammed of late. Take a look at the NDX (networking index). Double bottom. Don't think it'll hold long term, but again a bounce was/is in order. 207.61.23.98 In general I wanted a double bottom in techs before I entered for ST trading plays. Didn't feel comfortable buying during earnings and hoping they'd ignore bad news. Now earnings season is pretty much behind us for a while and we have a good shot at rallying short term imho. As for NG stocks I agree there was more downside risk than upside ST. That's why I chose EEE as my main exposure to this area. In a buyout situation it doesn't matter what happens to NG prices short term. I don't hear too many shouting new paradigm here. What are your timeframes for returning to NG prices in the 2's? I say it won't happen till fall of 2002 at the earliest. That still leaves plenty of time to play laggards imho. Granted I want more of a pullback near term before I return to the oil patch.

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