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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/11/2001 1:22:23 PM
From: besttrader	Read Replies (1) of 37746

13:15 ET Sonus Networks (SONS) 28.10 -1.19: Stock under pressure over the past hour; many rumors and some facts hitting the issue. As we noted yesterday, Sonus customer Broadband Office, a privately held company, filed for Ch. 11, and now there are rumors of trouble at another privately held SONS customer (though the name we're hearing just closed a financing round 3 months ago). Also hearing some talk that the company will soon file for a secondary offering. 13:12 ET Nasdaq Composite : -- Technical -- Bounces off support near the 2100 area but further progress beyond resistance in 2125/2130 area is needed to improve the recent weaker bias. Secondary ceiling is at 2141/2148. Failure leaves the door open to 2089/2088 (May 04/01 lows).

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