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Strategies & Market Trends : Z Best Place to Talk Stocks

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To: Larry S. who wrote (52883)	3/7/2005 8:18:52 AM
From: DanZ	Read Replies (1) of 53068

JNPR is another stock worth watching. The stock has lagged the Networking Index (IGN) and QQQQ since February 1. Since Feb 1: JNPR down 15% IGN down 0.4% QQQQ unchanged Nasdaq Composite up 0.9% JNPR has based the last nine trading days near 21.20. In my opinion, it is a low risk buy with a stop around 20.90. If it holds here and gets through 22.25, it could easily test resistance near 24. The trade would risk about 30 cents with close to $2 in upside potential. Looking further out, if the rally in the general market is going to continue, JNPR could be putting in a bottom and trade back to the high 20s where it was last December. However, all bets are off if 21 doesn't hold as the stock would likely fall back to longer term support near 20. For a longer term trade, there still isn't a lot of risk buying at 21.25 with a stop at about 19.50 given the upside potential.

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