A little fun reading ...
CNN/CNBC Newswire 15 March 2:45pm: Bulls Throw in Red Flag? Joe Battapaglia was joined by Abby Joseph Cohen today in recommending short positions in the Nasdaq indices. "Short anything that moves, Battapaglia decreed, The Naz is going down" Battapaglia, who recently dropped a bullish posture believes that Nasdaq stocks will eventually trade at negative price earnings multiples and that some tech stocks like Microsoft will cease to exist. Abbey Joseph Cohn, demurred slightly, believing that there was still value in Etoys and Webvan, but told a packed newsroom that she was also short Microsoft and heavily short Qualcom, JDS Uniphase, and Juniper Networks, believing that fiber, broadband, and wireless was "a pipe-dream" . "This is all vapor-tech, Cohen said, if there is any real growth in tech, it will be in Cyberfood, like Soylent Green, and cyber warehouses, indicating that eToys and Amazon were merely "correcting". She suggested a good way to profit from the anticipated decline in tech was short QQQ's at the market with a target of 5, " she said. More news later... |
