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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 77.48-0.4%10:37 AM EST
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To: RetiredNow who wrote (55177)9/10/2001 10:39:31 PM
From: Jerome  Read Replies (1) of 77400
 
Good Post....I'm thinking that we are slightly past the bottom with CSCO and the other techs. This is not to say that CSCO could not swing a full point down on any given day. But the bad news is having less and less of an effect on the market. Friday's sell off in my opinion was the result of Bush going on national TV and really having nothing to say. A few minutes prior to his speech the Nasdaq was up 17 and making a nice come back along with the DOW. By the time he finished we were near the lows for the day. Investors (individuals and institutions) realized very quickly that wherever the market was going it was going to go there without any help from the Bush administration. That being the case a sell off was in order.

This is dumb politics. Bush needs some new advisors. Why make a big deal about making a National Appearance on TV, and have nothing of consequence to say. You had to notice that following his speech there was no political analysis of what he said, because he said nothing.

When the President says nothing about helping the markets, thats spooky.....and we all paid the price.

In his final comments he says something about solving the energy crisis.What energy crisis? This politician is fighting windmills. Best put an oil derrick in the rose garden for good measure.

Well if I was an investor about to enter a market that has overcorrected, and heard that speech, I be spooked too. You might think that this is an over reaction....Look at todays Wall Street Journal....it makes no mention of Bush's speech.

Regards, Jerome
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