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Technology Stocks : JDS Uniphase (JDSU)
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To: RetiredNow who wrote (20994)7/29/2001 10:21:16 AM
From: lifeisgood  Read Replies (2) of 24042
 
"bottoms" are not determined by where a stock once traded. Bottoms are made when sellers become exhausted, shorts who are going to cover do cover their positions, and new longs become interested in a stock. I don't see evidence that any of these have happened yet for JDSU. To date, a few weak shorts have covered and the few remaining "buy the dip" buyers have started nibbling (these are not long-term holders and will exit the stock when they realize the "dip" isn't over)

I would add that when a stock falls below $10, many institutions begin dumping. Additionally, when a stock drops precipitously and suddenly, retail investor margin calls can also drop the price further.

I see further erosion in this stock in the near future. It's impossible to say how low it will go but I won't be a serious buyer until I see more evidence of a "bottom"

best...

LIG
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