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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 78.32

-0.1%

Jan 30 9:30 AM EST

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To: Lizzie Tudor who wrote (65584)	6/22/2004 12:31:43 AM
From: Elroy	Read Replies (1) of 77400

this market looks really sick to me and to a lot of investors also. Fine, but the numbers year to date show a flat market. Flat is flat, sick is down. I've been through 3 tech bust periods and all recoveries were better than this, Have you already forgotten that tech was up over 40% in 2003? That was the "recovery". Now we're in the pause market, waiting to see the next direction will prevail. Its not a bear until the decline at least begins! One of two things will happen, 1- The current raft of positive statements (a la SLR last week) will continue, and eventually tech will rally again, or 2- Negative pre-announcements and lowering of forward guidance will begin (a la JBL last week), and eventually tech will go down. But waiting around in a trading range to see which of those scenarios plays out is not a bear market. In bear markets, stocks go down, and the numbers this year don't show that. Elroy

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