Check out some of Waxie's price projections:
Tuesday, June 26, 2001
Tuesday, June 26, 2001 Posted Monday, June 25, 2001, at: 18:06 PM by waxie
And, after hours AMCC warned as WAXIE said they would.
Amazing how people are still so stupid as to think that we are
going to have this miraculous technology rebound in the 2nd half
of the year!
Unreal. AMCC we've said all along is a $5 - $7 stock in the end,
and its steadily moving closer and closer to that target.
They are now slated to have $40 - $45 MIL in revenues which projects
them out on a yearly basis to be trading at well over 20 X's revenue.
Ah, sorry, homey doesn't play that!
And, the kicker is, business is getting WORSE, not better.
For all those that feel that techs will get a miracle comeback,
sorry,it ain't gonna happen, not in this lifetime.
The days of tech bubbles are over for the near term.
Water ALWAYS seeks its own level. watch for BRCM, PMCS and
others in the same sector as AMCC to be under constant pressure
from here on in. We've said it for a long time, if you are
investing in tech the only way to make money is to be SHORT them,
not long them longer term.
Short term here now we have the FOMC on Wednesday and so we may
get a nice bounce today or tomorrow. 50 basis should trigger
a relief rally and with earnings upcoming we may very well get one
final rally on the Nasdaq once we're through warnings season.
HOWEVER, overall we remain in the BEARISH camp longer term. AS
traders we could care less how the market does long term, but
many of you play longer term and if so here are several longer term
shorts for your pleasure (short term we trade them with the market
long and short,these are for LONG TERM players only)
VRTS - should be a $20s stock longer term
JNPR - under $10 by year end
CIEN - under $15 by year end
BRCM under $10 by year end
PMCS - ditto
BIOTECH DEATH, BBH cut in at least 30% off from here easy (PDLI,HGSI,
IDPH, etc)
SOX = death period
You've asked for a Grinch list this year. Timing is everything.
Watch these for when the market breaks down,or months out of the
money puts if you wish to play. Keep in mind that we still believe
a near term rally is probable with earnings and FOMC. Once this FOMC
and earnings are out of the way, however, we could see a total breakdown of the market indexes that could spell doom to all investors.
Meantime, trade the way the market goes, don't buck it. If we rally,
play it the long way. We are NOT bears, nor bulls, we are TRADERS!
Don't get caught thinking we won't get rallies and bounces like
we just had into last earnings. We will and always do.
We'll see what we shall see. So far we've been right the whole way.
DOW under 9000 by year end is still very possible, as is Nasdaq
1200s.
Hope I'm wrong, but ya know I won't be.
See ya on the other side, TRADE 'Em here! Investors in big time
trouble!
WAXIE |
