Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.650

-2.9%

Nov 14 9:30 AM EST

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To: Anonymous who wrote (21285)	6/3/2003 4:24:15 PM
From: Jim Roof	Read Replies (1) of 21876

LU is not tanking. This is called profit taking. There might be reason for concern if LU closes under 2.00 but that concern is only for the short term. If it falls under 1.50 then that's much more serious for long-term implications. The mere fact that chunks of stock are being traded means that stock is trading hands. If a stock can trade hands and still maintain solid support (in this case, roughly at 2.00) then that is good news for longs. If shorts are taking large positions then a failure to push LU below 2.00 makes them look at this point like the ones most likely to regret their decision.

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