IBM Message Board - Msg: 17420062

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Technology Stocks : IBM

IBM 303.23

-0.4%

Nov 26 3:59 PM EST

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To: John Koligman who wrote (7655)	5/3/2002 2:46:58 PM
From: Arrow Hd.	Read Replies (1) of 8218

Hi John, things do look bleak. The layoff scenario anymore is an ongoing phenomena. In Global Services if you are not on contract or billing someone somehow you are given notice and the notice period was cut last year. When you're told is when it starts so if you are on vacation you better get home and start looking internally for another home. Thats how it was explained to me. The hardware organizations work on E/R ratios so cutting costs is the only way to close the equation in this environment. With so much money moving out of techs into other sectors it is hard to predict rallies. A lot of stuff looks tempting. On a number of CCs that I listened to positive visibility statements were made along with a good report and after a day or two of up movement, bang, back down again so it is extremely difficult to bottom fish here. Take Sun, their succession planning is no different than IBM's but in down markets everything is suspect. Somewhere here Sun and EMC are going to be steals but I don't have a clue to when that will be. Tight stops and scalp a trade here and there on up days is probably the best that can be done right now. I am 98% cash.

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