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Technology Stocks : JDS Uniphase (JDSU)

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To: Hank Stamper who wrote (19329)3/9/2001 11:25:55 PM
From: Robert  Read Replies (2) of 24042
 
I think you are mistaken in expecting a trading ralley. There has been a rapid adjustment of expectations. This is now a market for investors who are accumulating with a view to doubling money over a period of a year or two. This is not a retracement in a bull market. It is a new paradigm that opens opportunity to longer term views. I have resisted buying on expectations that a bottom has been put in place. There is no hurry, at least not over the next few months to a year. Businesses like Cisco, Nortel, Sun, Nokia, IBM etc don't suffer carnage likw we have seen without there being a substantial deterioration in fundamentals. Just because stocks look inexpensive on a relative basis, it doesn't mean they are. It is time to stand back and wait IMO.

Robert
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